The Straits Times
Published on Nov 30, 2012

Japan approves $13b stimulus package: Reports


TOKYO (AFP) - The cabinet of Japanese Prime Minister Yoshihiko Noda today approved a US$10.7 billion (S$13 billion) economic stimulus package, reports said, ahead of elections that his ruling party is widely expected to lose.

The new government spending of 880 billion yen (US$10.7 billion), reported by Dow Jones Newswires and Japanese media, was more than double an earlier package announced in October.

Approving a spending package after calling an election has been viewed as an unusual move that may trigger vote-buying criticism from opposition lawmakers.

The new spending would reportedly focus on boosting growth in a range of sectors, including health care and agriculture, as well as on public works projects following last year's quake-tsunami disaster.