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ECONOMY > Economic Policy

GOJ eyes over 20 trillion yen stimulus package

  • July 21, 2016
  • , Asahi , p. 1
  • summary

Most papers front-paged reports on a GOJ plan to compile a stimulus package of at least 20 trillion yen to help the domestic economy emerge from deflation and fend off possible adverse effects of Brexit. The government initially envisaged a stimulus package of somewhat more than 10 trillion yen, but the size is likely to double as the package will now include projects for fiscal 2017 and beyond. In the stimulus package, the government plans to earmark around 8.3 trillion yen for building and improving infrastructure, including 3 trillion yen for extending to Osaka a magnetically levitated train line now planned to run from Tokyo to Nagoya. To contain financial instability stemming from Brexit, the government plans to lend dollar funds to companies by providing 3 trillion yen from its foreign exchange reserves to the state-backed Japan Bank for International Cooperation. The stimulus measures will also include improving disaster resilience of buildings and other facilities.

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