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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 12 4:00 PM EST

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To: pater tenebrarum who wrote (28362)	10/5/1999 2:11:00 PM
From: Don Green	Read Replies (1) of 99985

Japan Plans 3.5 Trln Yen In New Public Investment Spending Wednesday, October 6, 1999 TOKYO (Nikkei)--The government and the ruling coalition decided Tuesday on about 3.5 trillion yen worth of public investment as key part of a second supplementary spending bill. "Public investment in the second fiscal half will be at least as much as last year," Finance Minister Kiichi Miyazawa said Tuesday evening. Public investment is defined as spending for public works and for items such as social welfare facilities and public elementary and middle schools. Public investment totaled roughly 3.9 trillion yen in last fiscal year's third supplementary spending program, equal to 3.4 trillion yen after excluding 500 billion yen put in reserve for fiscal 1999 public works budget. Miyazawa's comments consequently suggest public investment in the second supplementary spending program should total around 3.5 trillion yen. In addition, analysts say public investment could increase as the three parties in the ruling coalition negotiate the contents of the spending bill. (The Nihon Keizai Shimbun Wednesday morning edition)

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