Japan increases budget on quakes

Japan's government aims to increase the budget, around $7.15 billion or 778 billion yen, for reconstructing or restructuring the southern area of the nation, amid the earthquakes' recent hit.

In Kyushu, a southern island in Japan, the earthquakes damaged around 5,000 homes and killed 50 people.

Japan's extra budget effective as of April

Commencing April, the extra budget will fund reconstruction, temporary housing, and other related restructuring actions.

The lower interest costs, amid the BOJ's negative interest rate policy adoptions, will finance the budget without the need of issuing additional bonds.

Moreover, the approval of this budget will likely take place on May 13, by Shinzo Abe, Prime Minister, and by the parliament on May 17.







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