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Japan draws up budget for post-tsunami rebuilding

(Agencies)
Updated: 2011-04-22 10:49

TOKYO -?Japan drew up an extra budget worth over $50 billion on Friday to help finance post-tsunami reconstruction efforts.

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The Cabinet of Prime Minister Naoto Kan approved the budget totaling 4.02 trillion yen ($50 billion), the finance ministry said. Japan's parliament is expected to pass the budget next week.

Of the budget, the government will allocate around 1.2 trillion yen to fix roads and ports damaged by the March 11 earthquake and tsunami.

The twin disasters decimated much of northeastern Japan, leaving more than 27,000 people dead or missing.

The government has said the cost of the tsunami disasters could reach $309 billion, making it the world's most expensive natural disaster on record.