Japan PM Noda orders 1.0 trillion yen stimulus
TOKYO (AFP) - Japan's prime minister instructed his ministers on Wednesday to plan for an economic stimulus reportedly worth up to 1.0 trillion yen (S$15.4 billion) as an election hovers into view.
Prime Minister Yoshihiko Noda called an extraordinary Cabinet meeting and ordered the stimulus, Economy Minister Seiji Maehara said, adding that the package will not require the issuance of new deficit-covering bonds.
"The prime minister instructed me to take the lead in compiling the stimulus," Mr Maehara told a news conference. "At this point, issuing new Japanese government bonds is not among the conditions for the stimulus."
Mr Maehara declined to elaborate on the size of the stimulus package, but said the package will include measures to take advantage of the strong yen.