October 16, 2009 / 1:01 AM / 9 years ago

Japan Fujii: found Y2.9 trln waste in extra budget

(For more stories on the Japanese economy click [ID:nECONJP])

TOKYO, Oct 16 (Reuters) - Japanese Finance Minister Hirohisa Fujii said on Friday he had identified 2.9 trillion yen ($32 billion) in wasteful spending in the extra budget for the current fiscal year produced by the previous government.

He said the funds would be frozen and redirected for other spending programmes.

Fujii also reiterated that new bond issuance in fiscal 2010/11, starting next April 1, should be below the 44 trillion yen earmarked for the current fiscal year. ($1=90.54 Yen) (Reporting by Stanley White)

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