Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. Earth Science News .




POLITICAL ECONOMY
Japan passes $142 billion stimulus budget
by Staff Writers
Tokyo (AFP) Feb 26, 2013


Japan's parliament on Tuesday passed a $142 billion extra budget that forms a key part of Prime Minister Shinzo Abe's efforts to tackle the deflation that has dogged the economy for years.

The 13.1 trillion yen ($142 billion) package squeaked by the opposition-controlled upper house of parliament less than two weeks after the lower house approved the spending.

The measure is part of a wider stimulus package announced by Abe's cabinet in January, after his Liberal Democratic Party swept December elections on a pledge to revive the world's third-largest economy.

The new money will be earmarked for various economy-boosting measures, including job growth, upgrading Japan's ageing infrastructure, and rebuilding disaster-struck areas hit by the 2011 quake-tsunami.

Plugging a public-pension financing gap was among the other spending measures.

The total package could top 20 trillion yen if spending by local governments and the private sector was included.

Japan's economy shrank for a third straight quarter between October and December, leaving it mired in recession largely due to weak export demand, and stirring fears about its ability to cement a recovery.

Abe has pledged to pull Japan out of years of falling prices, which dampen demand and business investment, through big spending and aggressive monetary easing.

He has pressured the Bank of Japan for such policy measures, with a new central bank chief set to be nominated as early as this week.

The hawkish prime minister has also said he would boost defence spending. Japan is embroiled in territorial disputes with China and South Korea, while an unpredictable North Korea jangled regional nerves earlier this month with its third nuclear test.

But the big spending plans have stoked fears over Japan's already tattered fiscal health, the worst among industrialised nations, with public debt standing at more than twice the size of the economy.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





POLITICAL ECONOMY
Chinese 'Dubai' turns into deserted island
Sanya, China (AFP) Feb 24, 2013
It was billed as China's Dubai: a cluster of sail-shaped skyscrapers on a man made island surrounded by tropical sea, the epitome of an unprecedented property boom that transformed skylines across the country. But prices on Phoenix Island, off the palm-tree lined streets of the resort city of Sanya, have plummeted in recent months, exposing the hidden fragilities of China's growing but somet ... read more


POLITICAL ECONOMY
Rio meet focuses on using science to root out poverty

British PM sparks concern with aid budget proposals

Swiss Re posts 61% profit rise in 2012

Four guilty of manslaughter in Italy quake trial

POLITICAL ECONOMY
Tokyo hotel shrinks in new-style urban demolition

Fluids in Space, Shaken Not Stirred

The world's most sensitive plasmon resonance sensor inspired by ancient Roman cup

Sustainable new catalysts fueled by a single proton

POLITICAL ECONOMY
Vibrant Mix of Marine Life Found at Extreme Ocean Depths

New projections of 'uneven' global sea-level rise

EU fisheries council tackles discard ban

Wiring the ocean

POLITICAL ECONOMY
Data paper describes Antarctic biodiversity data gathered by 90 expeditions since 1956

Frostbite ends Fiennes winter Antarctic expedition bid

Reduced sea ice disturbs balance of greenhouse gases

Flow of research on ice sheets helps answer climate questions

POLITICAL ECONOMY
Maize part of coastal Peru diet for 5,000 years

Why sourdough bread resists mold

Cold-tolerant grapes expand wine country

Bees attracted to contrasting colors when looking for nectar

POLITICAL ECONOMY
Earthquake shakes buildings in Tokyo

Australia's iron ore centre braces for Cyclone Rusty

Thousands isolated by Australian floodwaters

Gold gifts mystify tsunami-wracked Japan city

POLITICAL ECONOMY
Amnesty International accuses I. Coast army of abuses

Regional leaders sign peace deal for eastern DR Congo

Guinea soldiers quit I.Coast village in border dispute

Rising Islamist threat in West Africa

POLITICAL ECONOMY
High-tech brain is scientists' goal

How human language could have evolved from birdsong

Stay cool and live longer?

Zuckerberg, Brin join forces to extend life




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement