TOKYO, Oct 7 (Reuters) – Japan is considering compiling an extra budget focused on relief spending for reconstruction efforts after disasters such as earthquakes and heavy rain, the Yomiuri newspaper said on Wednesday.
The size of the extra budget, the second this fiscal year, is likely to be small and it is not aimed at stimulating the economy, the paper said, citing a few unidentified sources.
The government will begin work in November to compile the extra budget, aiming to pass it through the ordinary parliament session that begins early next year, the paper added.
Prime Minister Sanae Takaichi’s office was not immediately available to comment.
Takaichi has pledged to discontinue Japan’s prolonged practice of compiling big extra budgets, and consolidate necessary expenditure in the annual budget.
But the administration will consider compiling a small, second extra budget, mainly for disaster relief, such as reconstruction in areas hit by earthquakes and heavy rain, the paper said.
The step follows an extra budget of about 3 trillion yen ($19 billion) compiled in June, to fund gasoline subsidies aimed at cushioning the blow to households from the rising cost of living, linked to the Middle East conflict.
($1=158.2100 yen)
(Reporting by Leika Kihara; Editing by Clarence Fernandez)
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