Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (1608)	11/16/1998 7:24:00 AM
From: Step1	Read Replies (2) \| Respond to of 3902

Tokyo Announces Largest-Ever 23.9 Trln Yen Stimulus Package TOKYO (Nikkei)-The government adopted Monday a new package of economic stimulus measures valued at more than 23.9 trillion yen, the largest of its kind ever. Reckoned to boost gross domestic product by 2.3 percentage points in real terms over the next year, the program is expressly aimed at allowing the Japanese economy to resume growing in fiscal 1999 and get into a steady recovery phase the following year. The package represents a resolve to fill a huge demand-supply gap, estimated at 30 trillion yen, through a decisive shift to an expansionary mode of fiscal policy management. It will form the core of a supplementary budget, the third for the year through March 1999, that the government and the ruling Liberal Democratic Party plan to submit to an extraordinary parliamentary session scheduled to open on Nov. 27. The package includes 8.1 trillion yen in spending on social infrastructure and tax cuts of more than 6 trillion yen. The plan's so-called "real water" components, central and regional government fiscal measures that directly contribute to GDP growth, total a record 10.5 trillion yen. Also proposed are allocations of around 1 trillion yen to job-creating measures, 5.9 trillion yen to the enhancement of public credit facilities such as lending by the Japan Development Bank, creating an additional 7 trillion yen in funds to loan guarantee systems for small and midsize businesses. Of the program's total funding, the government will set aside 8.1 trillion yen in the third supplementary budget for use in the current fiscal year. (The Nihon Keizai Shimbun Monday evening edition)