TOKYO (MNI) – Japanese Finance Minister Koriki Jojima said on
Friday that the government’s latest economic stimulus package is
estimated to push up GDP growth by 0.1 percentage point.
Earlier on Friday, the cabinet of Prime Minister Yoshihiko Noda
approved stimulus measures totaling about Y750 billion.
Of the total, central government expenditures will exceed Y400
billion including Y264 billion in fiscal programs for rebuilding the
earthquake-hit northeastern region and disaster prevention as well as
Y105 billion for revitalizing the economy.
Last week, Jojima said the stimulus package will be basically
funded by reserves in the fiscal 2012 budget.
Noda plans to open an extraordinary session of the Diet in coming
days in a bid to win opposition agreement to debt issuance.
Opposition parties, which control the upper house of parliament,
have refused to debate a bill that would allow the government to issue
debt for financing the large deficit in the Y90.3 trillion budget for
the current fiscal year that began on April 1.
tokyo@marketnews.com
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