Japan’s Cabinet Approves 5.1 Trillion Yen Stimulus Package
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Japanese Prime Minister Naoto Kan’s Cabinet approved a 5.1 trillion yen ($63 billion) stimulus package to fight deflation and combat the stronger yen.
The package will be funded by an extra budget for the year ending March 2011 worth 4.43 trillion yen, with the remainder coming from money made through cost cuts and frontloading of public works projects, according to a document released by the Finance Ministry in Tokyo today.