Japan approves US$27b extra stimulus budget to boost growth

Tokyo

JAPAN's Cabinet approved on Friday a US$27 billion extra budget for the fiscal year ending in March to revitalise growth, while critics see some of the spending as targeting voters ahead of an Upper House election next year.

The 3.3213 trillion yen (S$38.6 billion) stimulus budget features spending to support the low-income elderly, with cash benefits worth 30,000 yen per person, and farmers expected to be hit by the Trans-Pacific Partnership (TPP) trade deal.