Hatoyama to Launch Stimulus Package as Economy Weakens

Amid growing signs that Japan's recovery is losing momentum, Prime Minister Yuko Hatoyama is expected to launch his first stimulus package today, reveals Bloomberg.

 

Citing Finance Ministry officials, Bloomberg says Hatoyama may propose spending of as much as 4 trillion yen ($46 billion). The plan is likely to focus on helping small and medium-sized businesses, employment aid, and incentives to buy environment-friendly goods.

 

Hatoyama, who took office in September, is grappling with a slide in prices and a surging yen. His approval ratings have plunged, hurting the Democratic Party of Japan’s momentum ahead of upper house elections in July 2010, says Bloomberg.
 

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