ID :
145098
Thu, 10/07/2010 - 09:29
Auther :
Shortlink :
https://www.oananews.org//node/145098
The shortlink copeid
DPJ drafts 5 tril. yen fresh stimulus package+
TOKYO, Oct. 6 Kyodo - Prime Minister Naoto Kan's Democratic Party of Japan compiled an additional stimulus package worth nearly 5 trillion yen ($60.15 billion) on Wednesday to fight the impact of the yen's appreciation and sustain the country's economic recovery.
The ruling party proposed that the government boost overseas investment to
secure energy resources and strategic minerals by benefiting from the recent
strength of the Japanese currency. The DPJ also called on the government to
accelerate its efforts to export Japanese technology for infrastructure
construction.
Kan's Cabinet is expected to agree on a draft of the fresh stimulus measures,
based on the DPJ proposals, on Friday. It aims to secure Diet approval during
the ongoing session for a supplementary budget for the current fiscal year that
would finance the stimulus package.
But it is uncertain whether opposition parties, which control the House of
Councillors, will smoothly approve the budget bill.
The planned stimulus comes as the second in a series of emergency steps to keep
the economy on a recovery track, following the currently implemented stimulus
valued at 917 billion yen.
The latest measures also involve increasing public works projects to stimulate
regional economies as well as offering financial support to small and
medium-sized companies struggling under the impact of the yen's rise against
the U.S. dollar and other major currencies, which has negatively affected the
earnings of Japanese exporters.
The DPJ called for around 400 billion yen to be spent on promoting Japan's
economic growth. It said the government should ''utilize the merits of the
yen's recent rise to secure rare earths and energy resources.''
Rare earths, vital for such high-tech products as mobile phones, digital
cameras and hybrid vehicles, have been in the spotlight recently as China, a
large producer of the strategic minerals, allegedly restricted exports to Japan
amid bilateral tension.
A stronger yen makes cheaper Japanese purchases of overseas interests in mines
and oil fields. The government has also said it will seek to develop
alternative resources to rare earths.
Exporting infrastructure technologies is a key part of the country's growth
strategy. Japan intends to accelerate ''package'' exports connected to the
construction of high-speed railways, nuclear power plants and other overseas
development projects.
The DPJ proposed around 3 trillion yen for steps to revitalize regional
economies, including the introduction of more than 500 billion yen worth of
public works projects such as road construction. It also called for an outlay
of 1.1 trillion yen for childcare support and other social welfare purposes as
well as 300 billion yen to improve employment conditions.
==Kyodo
The ruling party proposed that the government boost overseas investment to
secure energy resources and strategic minerals by benefiting from the recent
strength of the Japanese currency. The DPJ also called on the government to
accelerate its efforts to export Japanese technology for infrastructure
construction.
Kan's Cabinet is expected to agree on a draft of the fresh stimulus measures,
based on the DPJ proposals, on Friday. It aims to secure Diet approval during
the ongoing session for a supplementary budget for the current fiscal year that
would finance the stimulus package.
But it is uncertain whether opposition parties, which control the House of
Councillors, will smoothly approve the budget bill.
The planned stimulus comes as the second in a series of emergency steps to keep
the economy on a recovery track, following the currently implemented stimulus
valued at 917 billion yen.
The latest measures also involve increasing public works projects to stimulate
regional economies as well as offering financial support to small and
medium-sized companies struggling under the impact of the yen's rise against
the U.S. dollar and other major currencies, which has negatively affected the
earnings of Japanese exporters.
The DPJ called for around 400 billion yen to be spent on promoting Japan's
economic growth. It said the government should ''utilize the merits of the
yen's recent rise to secure rare earths and energy resources.''
Rare earths, vital for such high-tech products as mobile phones, digital
cameras and hybrid vehicles, have been in the spotlight recently as China, a
large producer of the strategic minerals, allegedly restricted exports to Japan
amid bilateral tension.
A stronger yen makes cheaper Japanese purchases of overseas interests in mines
and oil fields. The government has also said it will seek to develop
alternative resources to rare earths.
Exporting infrastructure technologies is a key part of the country's growth
strategy. Japan intends to accelerate ''package'' exports connected to the
construction of high-speed railways, nuclear power plants and other overseas
development projects.
The DPJ proposed around 3 trillion yen for steps to revitalize regional
economies, including the introduction of more than 500 billion yen worth of
public works projects such as road construction. It also called for an outlay
of 1.1 trillion yen for childcare support and other social welfare purposes as
well as 300 billion yen to improve employment conditions.
==Kyodo
