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Japanese government approved stimulus package
The Japanese government approved JPY 28 trillion stimulus that the Prime Minister Shinzo Abe had promised last week to bolster the economy.
The government plan includes JPY 13.5 trillion fiscal measures, of which JPY 7.5 trillion is set aside for central and local government spending starting this fiscal. Another JPY 6 trillion will be provided for low-cost loans.
The program will support infrastructure projects and reconstruction works in earthquake hit areas.
Further, media reports said the government will give cash handouts of JPY 15,000 to 22 million low-income people.
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