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28 Dec 2014
Japan approves $29 billion stimulus package
FXStreet (Bali) - The Japanese government approved a stimulus package worth $29 billion on Saturday, intended to increase economic activity in the weaker regions of the country by providing subsidies to households and support small firms to spur consumption.
Reuters carries the news, noting: "The package was unveiled two weeks after a massive election victory by Prime Minister Shinzo Abe's ruling coalition gave him a fresh mandate to push through his "Abenomics" stimulus policies. The government said it expects the stimulus plan to boost Japan's GDP by 0.7 percent."
"Of the total, 1.8 trillion yen will be spent on measures such as distributing coupons to buy merchandise, providing low-income households with subsidies for fuel purchases, supporting funding at small firms and reviving regional economies", Reuters adds.
Reuters carries the news, noting: "The package was unveiled two weeks after a massive election victory by Prime Minister Shinzo Abe's ruling coalition gave him a fresh mandate to push through his "Abenomics" stimulus policies. The government said it expects the stimulus plan to boost Japan's GDP by 0.7 percent."
"Of the total, 1.8 trillion yen will be spent on measures such as distributing coupons to buy merchandise, providing low-income households with subsidies for fuel purchases, supporting funding at small firms and reviving regional economies", Reuters adds.