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Friday, October 21, 2011

Japan Cabinet OKs $158B Extra Budget For Tsunami

TOKYO (AP) - Prime Minister Yoshihiko Noda's Cabinet on Friday approved a 12.1 trillion yen ($158 billion) extra budget to help fund the reconstruction of Japan's tsunami-battered northeast.

The supplementary budget for the year through March approved Friday also earmarks about 2 trillion yen in measures aimed at easing pressure from the yen's recent surge, which erodes exporters' earnings.

"This (budget) will become a great source of energy or an engine for reconstruction," Finance Minister Jun Azumi told reporters after the Cabinet approval, according to Kyodo News agency.

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