Japan Cabinet OKs $147 billion extra budget

January 15, 2013

THE ASSOCIATED PRESS

Japan's Cabinet has approved a 13.1 trillion yen ($147 billion) supplementary budget through March that includes military spending for border defense.

Chief Cabinet Secretary Yoshihide Suga says the plan, endorsed Jan. 15 as part of the government's economic stimulus package, includes 210 billion yen ($2.4 billion) for an equipment upgrade to strengthen border defense. It still requires parliamentary approval.

Prime Minister Shinzo Abe announced Jan. 11 a 20 trillion yen ($225 billion) package of public works and other projects aimed at supporting Japan's struggling economy and manufacturers. Critics say the stimulus would aggravate Japan's massive public debt while fueling wasteful spending on unneeded construction projects.

Japan has faced recession amid weakening investment and demand in Europe and China. Sales of Japanese products in China have slumped due to a territorial dispute.

THE ASSOCIATED PRESS
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Prime Minister Shinzo Abe, left, talks with Deputy Prime Minister Taro Aso, center, before cabinet meeting on Jan. 15. (The Asahi Shimbun)

Prime Minister Shinzo Abe, left, talks with Deputy Prime Minister Taro Aso, center, before cabinet meeting on Jan. 15. (The Asahi Shimbun)

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  • Prime Minister Shinzo Abe, left, talks with Deputy Prime Minister Taro Aso, center, before cabinet meeting on Jan. 15. (The Asahi Shimbun)

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