Tue, Aug 02, 2016 - Page 15 News List

Abe announces 28 trillion yen stimulus package

Japanese Prime Minister Shinzo Abe, right, attends a session of the Japanese National Diet in an undated photo.

Photo: CNA

On Wednesday last week, Japanese Prime Minister Shinzo Abe announced an economic stimulus package worth more than 28 trillion yen (US$265 billion), designed to jump-start Japan’s economy.

According to reports by Bloomberg and Koydo News agencies, on Wednesday in Fukuoka, Abe announced that his government would have a stimulus package drawn up by the following week.

The package will then be handed over to the National Diet; a mere formality since Abe’s ruling coalition holds a majority in both the upper and lower houses, which guarantees that the economic bill will pass through parliament.

AFP reported that prior to Abe’s announcement of the stimulus package, the yen fell sharply against the US dollar following a report that Japan’s government was about to implement a package of stimulus measures designed to boost the country’s depressed economy.







This story has been viewed 5212 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top