japan approves 107 billion stimulus package
Last Updated : GMT 01:55:14
Arab Today, arab today
Arab Today, arab today

Japan approves $10.7 billion stimulus package

Arab Today, arab today

Arab Today, arab today Japan approves $10.7 billion stimulus package

Tokyo - AFP

Japan\'s cabinet approved a $10.7 billion economic stimulus package just weeks before an election the ruling party is expected to lose, while analysts questioned its likely benefits. The new spending of 880 billion yen ($10.7 billion) was more than double a package announced in October as the country gets set for polls that most say will usher in its seventh prime minister in six years. Friday\'s move, which came as official data showed Japan posted a surprise uptick in factory production last month, will also likely trigger vote-buying criticism from opposition lawmakers. The spending -- which will come out of reserve funds -- will focus on boosting growth in a range of sectors, including healthcare and agriculture, as well as on public works projects following last year\'s quake-tsunami disaster. Opinion polls suggest Prime Minister Yoshihiko Noda and his Democratic Party of Japan will be defeated by main opposition leader Shinzo Abe who heads the Liberal Democratic Party.Abe has vowed to spend heavily on public works and pressure the Bank of Japan into launching aggressive monetary easing measures to boost growth if his party win the December 16 vote. The BoJ has unveiled two policy easing measures since September. Japan\'s economy contracted in the July-September quarter, nudging it toward recession and dousing hopes the nation had cemented a recovery after last year\'s quake-tsunami disaster, which triggered the worst atomic crisis in a generation. However, the effectiveness of the government stimulus package has been questioned. \"While (the package) wouldn\'t be a poison, it wouldn\'t be a medicine either,\" Masamichi Adachi, a senior economist at J.P. Morgan Securities, told Dow Jones Newsiwires. A glimmer of hope emerged Friday as official data showed Japan\'s factory output rose 1.8 percent in October, the first rise in four months and beating market expectations of a 2.2 percent drop.Separate figures showed the jobless rate held steady while household spending for the month was better than expected, suggesting a possible improvement in consumer confidence. The unexpected figures -- and a producers\' survey that forecast a 7.5 output increase in December after a small decline for November -- gave the Tokyo stock market a little boost in Friday morning trade. The Nikkei index closed the morning 0.88 percent higher. But the economy ministry doused hopes that the latest economic data was something to cheer about, saying in a statement that output was on a \"downward trend\". Credit Agricole economist Kazuhiko Ogata also cautioned against any bubbly optimism, saying a sustained recovery would depend on stronger overseas demand for Japanese exports, while producers will have to bring down their built-up inventory. \"The need for adjusting accumulated inventory would weigh on production for the time being and thus a bottom-out of production would be confirmed only after the turn of the year at the earliest,\" Ogata said. As the weak European market dents demand for Japanese exports, a territorial row over islands in the East China Sea claimed by Tokyo and Beijing has also affected the trade balance owing to a consumer boycott of Japanese brands. Japan\'s top three automakers -- Toyota, Nissan and Honda -- have reported that the row with China has dug into their sales and profits, with October data on Thursday showing the trio slashed their output in China, the world\'s biggest vehicle market. Some analysts have suggested the slump in China demand may turn around in the early new year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

japan approves 107 billion stimulus package japan approves 107 billion stimulus package

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

japan approves 107 billion stimulus package japan approves 107 billion stimulus package

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday