TOKYO (MNI) – The Ministry of Finance said on Thursday that the
Japanese government has drafted a stop-gap budget totaling Y3.6 trillion
in order to cover minimum spending for the first six days of fiscal 2012
starting on April 1.
Parliament is expected to approve the temporary budget, the first in
14 years, on Friday as the Y90.3 trillion budget for fiscal 2012 is
unlikely to clear the opposition-controlled upper house by March 31. The
lower house has already approved the full budget.
The revenue for April 1-6 is estimated to total only Y11.8 billion.
The MOF will use funds from the national coffers and issue financing
bills as necessary in order to fill the gap.
tokyo@marketnews.com
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