Japan's extra budget for economic stimulus enacted

13:20, November 27, 2010      

Email | Print | Subscribe | Comments | Forum 

The Japanese cabinet's extra budget for financing a stimulus package worth about 5 trillion yen (59 billion U.S. dollars) was enacted on Friday.

The budget involves 4.4 trillion yen in actual spending. The move is aimed at combating the impact of the increasing strength of the Japanese yen and spurring the deflation-plagued economy.

The bill was voted down at a plenary session of the opposition- controlled upper house earlier on Friday. But, because it had already been approved last week by the House of Representatives, which can override a decision made by the upper house, it successfully cleared the Diet.

The package was aimed to increase the nation's real gross domestic product by about 0.6 percent and has set the creation or protection of between 450,000 to 500,000 new jobs as one of its immediate targets to help drive the economy forward.

In addition, the package will seek to strengthen social welfare by making further provisions for child-rearing, nursing care and other such areas.

Public works projects and a number of measures to bolster small businesses in Japan are also central to the government's plans.

The latest stimulus measures were initiated without increasing the issuance of government bonds.

The new stimulus package came after Kan's Cabinet officially approved a 917 billion yen stimulus package in early September, as Tokyo actively tries to counter the impact of softening export markets and a strong yen that is threatening a fragile recovery from recession.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion