Related
Bank of Japan unveils radical stimulus moves 
New man takes on Belgium’s financial problems 
IOC begins Tokyo inspection 
Dreamliner grounded by Japan’s leading airlines 
Shinzo Abe new Japanese PM Japan’s cabinet has approved an additional 17.4 billion euros for disaster relief following the March earthquake, tsunami and nuclear disaster.
Tokyo said the extra outlay will not mean it having to issue new bonds though it warned bigger spending later this year is likely to strain already stretched public finances.
The money will aid businesses and build new homes.
The extra budget follows a 4 trillion yen (35 billion euros) emergency budget passed by parliament in May to cope with the world’s costliest natural disaster. The supplementary budget will be sent to parliament in mid-July.
The extra budget will be funded entirely with leftover funds from last fiscal year’s budget.
The government is keen to fund as much of emergency spending as possible without new borrowing as it is saddled with a public debt that is already twice the size of the economy.
More about: Economy, Emergency, Finance, Japan, Japanese politicsCopyright © 2013 euronews
JavaScript is required in order to view this article’s accompanying video
Top Stories
US: Major disaster declared in Oklahoma after tornado leaves 91 dead
A powerful tornado has torn through a suburb of Oklahoma city in the US, leaving at least 91…
Egypt sends military reinforcements to Sinai
Egypt sent extra troops to Sinai - days after seven members of its security forces were kidnapped…
Protesters greet Myanmar leader Sein in US
Protesters gathered as the president of Myanmar arrived at the White House. Rights groups and some…
latest economy news
New Microsoft Xbox- Royal Mail profits up
- Greek banks to be sold
- Slovenia’s shaky banks bring a downgrade from Fitch
- Italy freezes hated property tax, doesn’t say how will make…
- European car sales rise, but it is a ‘dead cat bounce’?
- Turkey gains investment grading from Moody’s
- Stimulus measures boost Japan’s growth
- Greece seeks Chinese investors
- Falling eurozone inflation raises deflation fears
