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Japan passes supplementary budget to relieve disasters, help farmers

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Staff Writer |
Japan disaster
Asia   This was the second extra budget for fiscal 2018 through March

A supplementary budget for fiscal 2018 accounting for 3.04 trillion yen (28 billion U.S. dollars) was passed by Japan's parliament on Thursday, intended for funding measures including reinforcements against natural disasters.

This was the second extra budget for fiscal 2018 through March, which funds measures like bolstering public infrastructure, local media reported. The supplementary budget enacted earlier was worth 935.6 billion yen (8.53 billion dollars).

In the new budget, 1.07 trillion yen (9.86 billion dollars) will be used in projects to manage disaster-stricken areas, reinforcing roads and levees after last summer's typhoon and earthquakes.

Another 325.6 billion yen (2.97 billion dollars) is intended for helping Japanese farmers enhance their competitiveness in view of the country's entry into free trade deals.

The Japanese government intends to cover its spending with an increase in tax revenues, some leftover funds from the previous fiscal year and the issue of a little over 1 trillion yen (9.21 billion dollars) of bonds.

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