Japan set to compile $7.15 bn budget for reconstruction of quake-hit areasMay 10, 2016 - 12:26 AMT PanARMENIAN.Net - The Japanese government is set this week to compile an extra budget worth around 778 billion yen ($7.15 billion) for reconstruction in the areas of southern Japan hit by deadly earthquakes last month, government sources told Reuters on Tuesday, May 10, the news agency says. The quakes on the southern island of Kyushu killed about 50 people and damaged at least 5,000 homes. The extra budget for the current fiscal year that began in April will fund the building of temporary housing for the victims, with establishment of a reserve fund of 700 billion yen to support reconstruction, the sources said. No additional bonds will be issued to fund the extra budget, which will be financed through reduced interest payments on government debt due to lower interest costs stemming from the Bank of Japan's adoption of a negative interest rate policy, they said, according to Reuters. Prime Minister Shinzo Abe's cabinet aims to approve the extra budget on May 13 and have it enacted by parliament as early as on May 17, the sources said. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |