TOKYO, Dec. 13 (Xinhua) -- Japan's cabinet on Friday approved an extra budget of 4.47 trillion yen (41 billion U.S. dollars) to support disaster-related efforts and other projects.
A large portion of the extra budget will be used for reconstruction works of natural disasters and mitigation measures for similar events in the future.
According to the government, around 2.31 trillion yen (21.2 billion dollars) will be allocated for reconstruction from Typhoon Hagibis and other recent disasters, and also for infrastructure construction to prepare for the future.
To cover the additional expenditure, the government will issue 2.23 trillion yen (20.5 billion dollars) of deficit-covering bonds to make up for a shortfall in tax revenue, making it the first time in three years that the country issues such bonds in the middle of a fiscal year.
Such a decision could hurt Japan's efforts to improve its fiscal position, the worst among major developed countries, according to local media reports.
Among other projects, 384.7 billion yen (3.4 billion dollars) will be used for projects to help small and medium-sized companies improve productivity and navigate the transition to operators from the next generation.
About 342.8 billion yen (3.1 billion dollars) has been earmarked for measures to expand farm product exports.
The Japanese government also plans to spend 231.8 billion yen (2.1 billion dollars) on purchasing computers for public elementary and junior high schools by fiscal 2023 to promote education on information and communications technology.
