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Japanese gov't approves 2nd extra budget for FY 2008
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15:56, December 20, 2008

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The Japanese cabinet on Saturday endorsed a second supplementary budget worth 4.79 trillion yen (54.43 billion U.S. dollars) for the current fiscal year, aiming to support households, small businesses and regional economies hit hard by the global financial meltdown.

The adoption of the second extra budget came two months after the first supplementary budget for fiscal 2008, which involved 1.81 trillion yen (20.57 billion U.S. dollars), was enacted to support businesses and livelihoods affected by higher commodity prices.

The first and second extra budgets as well as the fiscal 2009 budget will be implemented "seamlessly" to effectively shore up the economy, according to the cabinet.

The principal budget for fiscal 2009 will be submitted to the Diet in January.

Source: Xinhua

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