Foreign Policy Blogs

Japan to enact $49 billion supplementary budget

A 4.02 trillion yen ($49 billion) supplementary budget is expected to be enacted Monday. The first extra budget for fiscal 2011 cleared the lower house of parliament Saturday.

The budget came in response to the March 11 earthquake and tsunami, and will be used to finance initial reconstruction measures, such as cleaning up the massive piles of debris, restoring infrastructure and building temporary housing.

The government has projected that the extra budget will push up Japan’s annual real gross domestic product by around 0.6 percentage point.

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