Japan considers compiling supplementary budget

Tokyo, April 23

Japan is considering compiling a supplementary budget in the parliament session to June 1 to fund reconstruction in its quake-hit south, senior ruling party officials said today.

Typically, the government takes up a supplementary budget at an extraordinary session later in the year but quakes a week ago, which killed about 50 people, prompted quick action on a separate budget, they said.

The disaster-related spending will be on top of a fiscal stimulus plan of up to 10 trillion yen in extra spending that PM Shinzo Abe is expected to announce around time he hosts a Group of Seven summit in late May. The government has already set aside 2.3 billion yen from a 350 billion yen reserve fund for the 2016-17 April to March fiscal year for the disaster-hit region.