Japan approves huge stimulus for sluggish economy

Japanese Prime Minister Shinzo Abe (C), Finance Minister Taro Aso (R), and Economic Revitalisation Minister Nobuteru Ishihara (L) approved a massive stimulus to boost Japanese growthJapan’s cabinet Tuesday approved a mammoth 28-trillion yen ($273 billion) package in its latest attempt to stimulate lacklustre growth, including cash to improve infrastructure and raise the birthrate in the ageing nation. The stimulus plan announced last week is the latest in a series in recent years designed to fire up the world’s number three economy. “We have been able to put together a strong package that includes bold investment for the future,” Prime Minister Shinzo Abe said Tuesday before the cabinet meeting which gave it the green light.

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