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Japan mulls $292-317bn rebuilding

Tokyo, July 21, 2011

Japan's government is considering carrying out rebuilding projects worth 23-25 trillion yen ($292-317 billion) in the northeast region devastated by the March 11 earthquake and tsunami, a government source said on Thursday.     

Tokyo also sees the need for actual spending of 13 trillion yen in addition to a combined 6 trillion yen already allocated in two extra budgets it has compiled since the disaster, the source told Reuters.     

To raise the money, the government is considering issuing special bonds, scaling back other spending plans and selling national assets, the source said.

It will consider seeking tax hikes to pay for redeeming the bonds, the source said. - Reuters




Tags: Quake | Japan | tsunami | reconstruction |

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