Japan Govt. ponders $92 billion in stimulus package to revive growth


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Japan Govt. ponders $92 billion in stimulus package to revive growth

Japan, the third-largest economy of the world by nominal GDP having a highly-developed free-market based economic system, was exploring an option to inject as much as $92 billion in fiscal spending as a stimulus package to reignite growth of the nation’s sharply slowing economy, pointing towards a much-softer demand across the world as the world’s second-largest developed economy had been facing off an economic holocaust meaded out of a sixteen-month long US-China trade spat, a Nikkei newspaper report published on Saturday (November 30th) had revealed citing sources familiar with the subject-matter.

Besides, Saturday’s (November 30th) Nikkei newspaper report had also added that the Government of Japan of PM Shinzo Abe serving the nation since 2012 was drawing out a plan to issue more bonds in a bid to fund public work spending worth of as much as £28.7 billion and to cover up a steep downfall in tax revenues as businesses heavily exposed to US exports had still been feeling intense heat amid an escalated trade row between Washington and Beijing.

On top of that, the Japanese Nikkei daily report was also quoted saying that Japan’s PM Shinzo Abe’s administration would likely to finalize the economic stimulus worth of $92 billion as early as next week.