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Japan gov't to craft sizable 2nd extra budget: Kan

04-22-2011 20:16 BJT Special Report:9.0 Magnitude Earthquake Rocks Japan |

TOKYO, April 22 (Xinhua) -- The Japanese government is going to craft a "sizable second extra budget" to finance reconstruction efforts in areas destroyed by the March 11 earthquake and tsunami, Prime Minister Naoto Kan said Friday.

Kan also suggested at a press conference the issuance of government bonds is unavoidable for the second extra budget, which some analysts expect will be rolled out in June.

The Japanese Cabinet on Friday approved a 4.02 trillion yen (49 billion U.S. dollars) draft extra budget.

The budget for the current fiscal year, the first of several emergency financing schemes, will be submitted to the Diet on Thursday next week and is expected to come into effect from May 2.

The budget will provide more than 100,000 temporary housing facilities for displaced victims after the March 11 crisis, as well as allocations for repairing damaged infrastructures and clearing up rubble, lawmakers said.




Editor:Zhang Pengfei |Source: Xinhua

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