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Japan to spend about $27 billion in second extra budget for FY2018/19 - sources

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By Reuters
Japan to spend about $27 billion in second extra budget for FY2018/19 - sources

TOKYO (Reuters) – Japan’s government is set to spend about 3 trillion yen (£20.9 billion) in a second extra budget for this fiscal year to boost infrastructure, support for farmers and deal with natural disasters, two government sources with direct knowledge of the matter told Reuters.

Prime Minister Shinzo Abe’s cabinet is expected to decide on the additional budget later this month for submission to parliament in January, the sources said on condition of anonymity because they are not authorised to speak to media.

To help fund the extra spending, the government plans to issue new bonds worth 1.3 trillion yen in the current fiscal year to end-March 2019, the sources said.

(Reporting by Takaya Yamaguchi; Writing by Tetsushi Kajimoto; Editing by Darren Schuettler)