Japan's Abe unveils ¥5T stimulus measures

|By:, SA News Editor

As widely expected, Japanese Prime Minister Shinzo Abe has unveiled a ¥5T ($51B) stimulus package to offset an increase in sales tax to 8% from 5%.

The measures will include spending on public works and tax breaks to encourage companies to boost capital expenditures and wages.

Finance Minister Taro Aso intends to avoid issuing fresh government debt to finance the stimulus, which will instead be funded with extra tax revenue and other sources.

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