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Thursday
Apr212011

Japanese Government Proposes $48.9 Billion Emergency Budget

FUKUSHIMA MINPO/AFP/Getty Images(TOKYO) -- The Japanese government announced a new $48.9 billion emergency budget Thursday that will be used for disaster relief. 

Japan is still recovering from last month's earthquake and tsunami -- along with the nuclear reactor crisis that followed -- and the government expects the country's reconstruction will cost nearly 25 trillion yen, according to the BBC.

Parliament has yet to approve the budget, which could be enacted as early as May.

With the emergency funds, Japanese officials hope to provide temporary housing and loans in connection to disasters and rebuilding the country's infrastructure.

The BBC reports that Prime Minister Naoto Kan has indicated that several additional reconstruction budgets could also be in Japan's future.

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