Japan considers reviving economy with USD29b stimulus
(MENAFN) The Japanese government is considering a new economic stimulus package worth USD29.2 billion to revive the country's economy, with most of the funds expected to focus on the disaster-struck regions of north-eastern Japan that were devastated the earthquake and tsunami in March 2011, Gulf News reported
The government is also expected to allocate USD2.07 billion to support the people as well as measures to increase consumer spending, while another USD141 billion will to be used for measures to counter a declining birth rate in the country.
Japan's economy fell into recession after shrinking at an annual pace of 1.9 percent during the July-September period and 6.7 percent during the April-June period and after the government approved a tax hike in April.
The government is also expected to allocate USD2.07 billion to support the people as well as measures to increase consumer spending, while another USD141 billion will to be used for measures to counter a declining birth rate in the country.
Japan's economy fell into recession after shrinking at an annual pace of 1.9 percent during the July-September period and 6.7 percent during the April-June period and after the government approved a tax hike in April.
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