Japan to prepare extra budget of over $4.5 billion for quake recovery - sources | Reuters

TOKYO The Japanese government is looking to prepare an extra budget of more than 500 billion yen ($4.5 billion) for reconstruction in the areas affected by the recent earthquakes in southern Japan, sources told Reuters.

Prime Minister Shinzo Abe ordered his government on Sunday to compile the extra budget package to fund reconstruction.

The government aims to get approval from the cabinet on May 13 and put it into effect by June 1 when the current session of parliament ends, the sources said.

(Reporting by Takaya Yamaguchi, writing by Kaori Kaneko, editing by Chris Gallagher)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.

Updated Date: Apr 26, 2016 07:45:11 IST

Also See