Japan to prepare extra budget of over US$4.5b for quake recovery

[TOKYO] The Japanese government is looking to prepare an extra budget of more than 500 billion yen (S$6.1 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.

REUTERS