Japanese government allocates $266 bln to stimulate economy

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Japanese government allocates $266 bln to stimulate economy
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The experts believe that the funds allotted by the Japanese government will be directed to the development of agriculture, infrastructure construction and support of tourism industry.

The government of Japan will allocate 28 trl yens (approximately $266 bln) to implementation of the economy stimulation measures, Prime Minister of the country, Shinzo Abe, said on Wednesday, TASS news agency reports.

“We will prepare (the economy stimulation package) the next week, having put an emphasis on investments in the future”, - Kyodo news agency cited Shinzo Abe.

The official decision will be made by the Japanese government on the 2nd of August 2016. The package for the country’s economy stimulation will be funded by means of adoption of an auxiliary budget.