Japan considers $292-317 billon rebuilding | india | Hindustan Times
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Japan considers $292-317 billon rebuilding

india Updated: Jul 21, 2011 11:11 IST

Reuters
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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, said the source.

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.

($1 = 78.865 Japanese Yen)