Japan Cabinet OKs USD 274 billion stimulus package
(MENAFN- Kuwait News Agency (KUNA)) TOKYO, Aug 2 (KUNA) -- Japanese Prime Minister Shinzo Abe's Cabinet on Tuesday approved a JPY 28.1 trillion (USD 274 billion) economic stimulus package to boost the sluggish economy and to end deflation.
The stimulus package contains JPY 13.5 trillion (USD 132 billion) in government spending, according to the Cabinet Office.
With the stimulus measures, the government is expected to improve infrastructure nationwide, including high-speed railways and ports, attract foreign tourists and promote agriculture exports from rural areas.
The package also including measures to help small and medium-sized companies deal with the potential impact of Britain's exit from the European Union, and improve welfare services.
The government will compile an extra budget for fiscal 2016 worth JPY 4 trillion (USD 39 billion) later this month to fund the package. (end) mk.rk
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