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Politics : Formerly About Applied Materials
AMAT 301.11+6.9%Jan 9 9:30 AM EST

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To: StanX Long who wrote (55819)11/18/2001 5:33:28 PM
From: StanX Long  Read Replies (1) of 70976
 
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Sunday November 18, 8:09 PM

Japanese economic minister not denying second extra budget


sg.biz.yahoo.com

A key Japanese economic minister said he would not rule out the possibility of compiling an extra budget this year while vowing to find a way to save the economy and rehabilitate state finances.



"I do not deny the possibility" of the second extra budget on top of the 25-billion-dollar outlay approved last week, Heizo Takenaka, state minister for economic and fiscal policy, told the private Fuji Television network.

But Takenaka quickly added: "On the other hand, we definitely must keep fiscal discipline."

Japan's parliament last Friday gave final approval to a three-trillion-yen (25-billion-dollar) extra budget for the year to March aimed at fighting record high unemployment, but there were immediate calls for more pump-priming as the economy falters.

The sum is much smaller than previous supplementary measures, reflecting Tokyo's commitment to cap expenditure and plug funds to public works projects as part of a reform drive to kick-start the moribund economy.

"I think it is no good to take one of the two," Takenaka said alluding to extra government spending and Prime Minister Junichiro Koizumi's promise to cap new bond issuance at 30 trillion yen.
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