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Japan's official version of the stimulus package details: new budget spending only 7. 5 trillion yen

by:Deyuan      2020-12-23
, shinzo Abe, Japan's prime minister, said on Tuesday, Japan's cabinet approved by scale up to 28. 1 trillion yen ( Us $273 billion) The economic stimulus package. He gives the stimulus package details. Unfortunately, Mr Abe has not specified stimulus or fiscal measures shall be limited to this fiscal year or the next few years.

Abe said the stimulus package includes 13. 5 trillion fiscal stimulus, but only seven new state and local budgets. 5 trillion yen, this is the direct costs, most coverage over the next two years. He also said the government will be in later this month to compile supplementary budget, to provide about 4 trillion yen for this fiscal year, additional stimulus spending.

the fiscal measures include 6 trillion yen cheap fiscal investment and loan, these funds are not included in the government's general budget.

the official version of the stimulus detail and bloomberg earlier for the ruling party members in front of the cabinet meeting today to discuss a draft of the agreement. Draft, according to the 13. 5 trillion yen fiscal stimulus measures including: 2. 7 trillion yen for kumamoto earthquake and disaster relief measures in northeast China in 2011; 3. 4 trillion yen to improve population structure; 6. 2 trillion yen for infrastructure, such as is used to speed up the construction of a high-speed maglev train line connection of Tokyo and Osaka; 1. 3 trillion yen in response to the British to take off the risk, to help small and medium-sized enterprises.

on Wall Street see morning, 28. 1 trillion yen stimulus is the third highest level since 1992. 13. Basic equivalent to 5 trillion yen of fiscal stimulus, shinzo Abe, data released last week. But Mr Abe did not mention the 13 trillion is the year of new spending, or aggregation of additional spending in the coming years. If all was new to the 2016/2017 fiscal year 13 trillion budget spending, since this will be Abe to power most of a massive fiscal stimulus. Shinzo Abe,

also said that the economic stimulus measures will constitute approximately 1 on economic growth. 3% of the lift. However, analysts say, the Japanese government's stimulus package & other; Not enough stimulation & throughout; 。

Wu Jieyun cicc analysts said last week, even if the 13. 5 trillion is all new budget spending this year, and in April 2013, the bank of Japan's new push, compared to the magnitude of the QQE this fiscal easing efforts is not an order of magnitude.

citi Willem Buiter, chief economist at CNBC today & other; 对讲机” Show lashed out at the government's new stimulus, Abe said its inadequate:

Japan must seriously consider sustainable, large-scale, continuous stimulus, until there is a 2% inflation target.

Willem Buiter, warned that a one-off stimulus measures are not enough to boost the economy, make Japan out of deflation.

, official figures show Japan inflation in June for the fourth consecutive month of decline, and household spending over the past 12 months have ten months are in decline.

after Abe announce details of the stimulus measures, the yen extended gains obviously, every breakthrough 102, touched 101. 81.
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