The Cabinet approved a 4.767 trillion yen supplementary budget Monday for the current fiscal year through March, including 1.36 trillion yen to help rebuild areas hit by torrential rain, typhoons and earthquakes.
The disaster-related portion is designed to help repair roads, bridges and other public facilities in Fukui Prefecture, hit by a series of powerful typhoons this past summer, and Niigata Prefecture, rocked by strong earthquakes in October, Finance Ministry officials said.
The government will present the extra budget at a regular Diet session to convene in January.
The budget also covers 958.6 billion yen in additional spending in mandatory expenses such as social security, and 1.168 trillion yen in tax grants to cash-strapped local governments, the officials said.
The extra budget will be financed by growing tax revenues, without relying on the additional issuance of government bonds, they said.