Japan to compile economic stimulus worth $120 billion in fiscal spending - Abe

Ross J Burland FXStreet

Japanese Prime Minister Shinzo Abe said on Thursday the government would compile an economic stimulus package worth about 13 trillion yen (£93.53 billion) in fiscal spending, including an extra budget from this fiscal year and spending earmarked for fiscal 2020.

Actual spending at about JPY9.4 trillion.

The package would rise to 25 trillion yen ($230 billion) when private-sector and other spending are included, sources have told Reuters.

Update

There have been additional reports since the initial news that the Japanese stimulus draft package will boost real Gross Domestic Product by 1.4 ppt.

Extra budget at about JPY4.3 trillion.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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