Japan cabinet approves $180 billion extra budget
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Japanese Prime Minister Shinzo Abe (left) smiles with Finance Minister Taro Aso at a cabinet meeting at the prime minister's official residence in Tokyo on Jan 15, 2013. Japan's Cabinet on Tuesday approved a 13.1 trillion yen (S$180 billion) supplementary budget plan through March that includes military spending for border defense. -- PHOTO: AFP
TOKYO (AP) - Japan's Cabinet on Tuesday approved a 13.1 trillion yen (S$180 billion) supplementary budget plan through March that includes military spending for border defense.
Chief Cabinet Secretary Yoshihide Suga said the plan, endorsed as part of the government's economic stimulus package, includes 210 billion yen (S$2.94 billion) for a military equipment upgrade to strengthen border defense.
Prime Minister Shinzo Abe on Friday announced a 20 trillion yen (S$276 billion) package of public works and other projects aimed at supporting Japan's struggling economy and manufacturers.
Critics say the stimulus would aggravate Japan's massive public debt while fueling wasteful spending on unneeded construction projects.
