Japan is preparing an economic stimulus package worth $120 billion to support fr...
TOKYO - Japan is preparing an economic stimulus package worth $120 billion to support fragile growth, two government officials with direct knowledge of the matter said on Tuesday, and complicating government efforts to fix public finances.
The spending would be earmarked in a supplementary budget for this fiscal year to next March and an annual budget for the coming fiscal year from April. Both budgets will be compiled later this month, the sources told Reuters, declining to be identified because the package has not been finalised. The Nikkei business daily reported on the weekend that the government was considering putting together a large-scale stimulus package with fiscal spending exceeding $92 billion.
Such spending could strain Japan’s coffers - the industrial world’s heaviest public debt burden, which tops more than twice the size of its $5 trillion economy.
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