2nd extra budget for quake reconstruction may be crafted around June
Monday 04th April, 06:45 AM JST
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Japan will likely need to craft the second extra budget for fiscal 2011 in June or July to finance reconstruction work after the massive earthquake in March, a senior ruling party lawmaker said Sunday.
‘‘We will put all our efforts toward the first extra budget in April,’’ Katsuya Okada, secretary general of the Democratic Party of Japan, told reporters in the city of Fukushima. ‘‘After making this budget, we will sit down a bit and try to draw up the second extra budget by around June or July and move to the stage of reconstruction.’‘
The government led by the DPJ is preparing the first supplementary budget of more than 2 trillion yen for the new fiscal year, which began last Friday, to deal with the aftermath of the March 11 catastrophic earthquake and ensuing tsunami.
The emergency spending will most likely be followed by a second and third batch, and total expenditures could top 10 trillion yen, according to DPJ lawmakers.
Okada, the No. 2 man of Prime Minister Naoto Kan’s DPJ, met with the press after holding talks with Fukushima Gov Yuhei Sato over the crisis at the tsunami-stricken nuclear power plant in the prefecture.