Top World News
Mon, 18 Sep 2000, 10:51pm EDT
Japan's Extra Budget to Total 10 Trillion Yen, Nikkei Says
By Tomoko Yamazaki
Tokyo, Sept. 19 (Bloomberg) -- Government and ruling party officials are considering proposing a supplementary budget worth 10 trillion yen ($93.5 billion) for the remainder of this fiscal year through March 31, the Nihon Keizai newspaper said, without citing sources.
Of the 10 trillion yen, up to 4 trillion yen will be set aside as loan guarantees for small businesses. The rest will be used for infrastructure spending, the paper said.
The officials will meet tonight to adopt the extra budget and other measures to stimulate the economy, the report said.
Japan has poured more than 120 trillion yen into the economy in a series of spending packages since 1992, and last year became the world's biggest debtor. Total government debt is forecast to reach 645 trillion yen in March 2001, equivalent to 130 percent of GDP, the government estimates.
(Nihon Keizai, 9/19, front page) For the Nihon Keizai Web site, see {NKEI } |
