Nikkei: Japan to compile stimulus of around 3.5tln yen

Nikkei reports:

Japan to compile stimulus of around 3.5tln yen

• Prime Minister Shinzo Abe’s cabinet will approve the stimulus package as early as December 27
• Wwas originally expected to be worth 2 trillion yen to 3 trillion yen
• But now to include additional spending on for local governments and aid to small and midsize businesses
• “No new debt will be issued to pay for the extra spending. Instead, funding will come from higher-than-expected tax revenue and other sources. The government aims to see the necessary supplementary budget enacted in mid-February.” Hmmm, OK then.