Global Biz

Japan govt agrees on draft of 5.05t yen stimulus

(Xinhua)
Updated: 2010-10-08 10:18

TOKYO - The Japanese government has decided on a draft of fresh stimulus package worth about 5.05 trillion yen ($61.3 billion) on Friday morning to spur the country's economy.

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The package is believed to involve public works projects and support for smaller businesses, according to Kyodo News report.

It was aimed to win Diet approval for a supplementary budget for the current fiscal year that would finance the stimulus package.

But it is not yet certain whether the opposition parties, which control the House of Councillors, will smoothly pass the budget bill, local media reported earlier.