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Japan: Cabinet Approves 61.3 Billion Dollar Stimulus
Source: newsonjapan.com
Source Date: Friday, October 08, 2010
Focus: Institution and HR Management
Country: Japan
Created: Oct 10, 2010

The Japanese cabinet on Friday approved a new stimulus package worth 61.3 billion dollars to help shore up an economy hit hard by deflation and the impact of a strong yen. The 5.05 trillion yen package will be financed by an extra budget, which the government is trying to finish by the end of this month. The package may boost Japan's gross domestic product by as much as 0.6 percent while helping to safeguard jobs, the Nikkei newspaper said. Japan's export-led recovery has shown signs of slowing recently. Exports expanded at their slowest pace this year in August, amid falling overseas demand, while consumer prices continue to drop.
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