Tokyo okays 13.5 trillion yen fiscal package

Tokyo

JAPAN has approved a 13.5 trillion yen (S$179.1 billion) fiscal package that forms part of planned government and private sector spending initiatives with a total "headline" value of 28 trillion yen over the next several years.

"We compiled a strong economic package draft aimed at carrying out investment for the future," Prime Minister Shinzo Abe told a meeting of cabinet ministers and others in his ruling Liberal Democratic Party. "With this, we will proceed not just to stimulate demand but also achieve sustainable economic growth led by private demand."