TOKYO:

The Pak Banker - - FRONT PAGE - Ja­pan govt okays $26b ex­tra bud­get to fund stim­u­lus spend­ing

The Ja­panese gov­ern­ment on Fri­day ap­proved a $26 bil­lion ex­tra bud­get for the cur­rent fis­cal year to fund stim­u­lus spend­ing and help pull the econ­omy out of re­ces­sion. The 3.118 tril­lion yen ex­tra bud­get for the stim­u­lus, un­veiled last month, in­cludes fund­ing for steps such as help­ing Ja­pan's lag­ging re­gions and house­holds with sub­si­dies and shop­ping vouch­ers and re­build­ing after nat­u­ral dis­as­ters. The ex­tra ex­pen­di­ture comes on top of the ini­tial out­lay of 95.9 tril­lion yen, bring­ing the to­tal amount of this fis­cal year's gen­eral-ac­count bud­get spend­ing to 99 tril­lion yen, high­light­ing Ja­pan's strug­gle to fix dire pub­lic fi­nances. "This bud­get is well-fo­cused in terms of speed­ily re­spond­ing to weak and frag­ile spots in the econ­omy," Fi­nance Min­is­ter Taro Aso told re­porters after a cab­i­net meet­ing.

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