Abe's Cabinet to Approve 28 Tr Yen Stimulus Package
Japan's Prime Minister Shinzo Abe
Tokyo - QNA
Japan's Prime Minister Shinzo Abe's Cabinet will approve an economic stimulus package worth 28.1 trillion yen about ($274 billion) on Tuesday aimed at beating deflation and containing any possible negative impact from Britain's decision to leave the European Union.
The package will include additional expenditure by the state and local governments totaling 7.5 trillion yen, with the government also considering an extra budget worth 4 trillion yen for this fiscal year, according to Japan's (Kyodo) News Agency.
Due to fiscal constraints, the majority of the stimulus package will come from the fiscal loan and investment program, which is not based on the general budget.
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