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Japan plans $32.8 bil. extra budget for stimulus www3.nhk.or.jp
The Japanese government is finalizing a 32.8 billion-dollar supplementary budget to fund stimulus spending.
The government unveiled an economic stimulus package worth about 280 billion dollars earlier this month.
It is earmarking 7.1 billion dollars from the extra budget for child-rearing support and a one-time payment to low-income earners.
Some 14 billion dollars will be spent for infrastructure projects, such as ports that can accommodate large cruise ships.
The government is providing another 14 billion dollars to help rebuild the quake-struck Kumamoto area in the southwest, and the tsunami-hit northeast.
The second supplementary budget for the fiscal year starting in April totals 32.8 billion dollars, after subtracting some reductions. These include lower interest payments for government bonds resulting from low borrowing costs, and projects that are no longer necessary.
The Cabinet is to approve the budget on Wednesday and send it to the Diet later this year for legislative approval.
Published Date:2016-08-23
