English | دری

Japan cabinet approves second stimulus package.

in International Business

Japan cabinet approves second stimulus package.

Japanese lawmakers have approved another stimulus package to revive growth, as the flagging economy becomes a key issue in the upcoming general election.

The money totalling 880bn yen will be mainly used to create jobs and support small businesses, the cabinet said.

New data showed industrial output rising in October, but there were very few other positive indications.

Analysts don’t believe the stimulus will improve economic conditions.

“The total size is not enough to really boost gross domestic product, especially for early next year,” said Junko Nishioka from RBS Japan Securities. “It is not enough to change the mood of business activity.”

In the September quarter, Japan’s economy contracted by 0.9% compared to the previous quarter.

The contraction is equivalent to an annualised drop in GDP of 3.5%.


Tags assigned to this article:
japan economyJapan stimulus

Related Articles

India boosts presence in West Africa with trade, cooperation

India’s footprint is growing in West Africa, especially in two main players in the region, Nigeria and Ghana, with increased

Two major South Korean retailers halt sales of US beef

Two of South Korea’s biggest retailers have halted sales of US beef after the discovery of a case of “mad

Greek governing parties 'lose majority' at polls

Greece’s two governing parties, which back tough austerity measures, have lost their parliamentary majority in Sunday’s election. With almost all

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.