Prime Minister Junichiro Koizumi on Friday instructed his Cabinet to begin work on a supplementary budget for the current fiscal year after official data confirmed that the nation’s economy shrank in the second quarter of 2001.

Koizumi set the plan in motion at a morning Cabinet meeting, saying the extra budget should be in line with his pledge to put a 30 trillion yen cap on fresh government bond issues from this fiscal year, Chief Cabinet Secretary Yasuo Fukuda said.

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