Japan to make economic stimulus package by Jan. 11Souce:Xinhua Publish By Jane B. Hatcher Updated 21/12/2012 5:56 am in Business / no comments
TOKYO, Dec. 20 — The Liberal Democratic Party (LDP) decided Thursday to make an economic package by Jan. 11 to stimulate the current stagnant Japanese economy, party lawmakers said on Thursday.
According to the package, the new government, to be led by LDP leader Shinzo Abe after the party’s victory in Sunday’s general election, will decide on a supplementary budget on Jan. 15 for its submission to parliament in January, local media quoted lawmakers.
Although the LDP plans to have the fiscal 2013 budget submitted to parliament by the end of February, the submission could be delayed until late March with priority given to the supplementary budget, LDP Policy Research Council Chairman Akira Amari said.
Though the size of the supplementary budget was not specified, Amari said, “It will be sufficient enough to pull Japan out of deflation.”
Abe, the current LDP leader set to become Japan’s prime minister next Wednesday, has vowed to give priority to combating Japan’s chronic deflation and taking measures to spur the economy.