(MENAFN) Japan's Prime Minister, Shinzo Abe, stated that the cabinet has endorsed a USD224 billion stimulus package to support the country's sluggish economy, reported Xinhua News.
Abe said that the package, which is projected to add 2 percent points to the Japanese gross domestic product (GDP), would be used to beat inflation, restrain the strong yen, and to create 600,000 jobs.
Of the total, USD43.11 billion would be used to finance public works projects and USD35.17 billion to establish energy-saving plants and promote research on induced pluripotent stem cells (iPSCs).
Furthermore, another USD35.17 billion are allocated to boost road safety on school-commuting roads and enahnce home care services in order to improve people's quality of life and revitalize local communities, whereas an amount of USD148 billion is an additional budget for the current fiscal year through March.
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