Japan launches $107.5B stimulus package

The package includes 2 trillion yen ($18 billion) in rebate checks that will be sent to Japanese citizens.
AUG 29, 2008
With Japan’s economy struggling and inflation reaching its highest level in over a decade, the government today introduced an 11.7 trillion yen ($107.5 billion) stimulus package to try and ignite consumer spending, according to published reports. The package includes 2 trillion yen ($18 billion) in rebate checks that will be sent to Japanese citizens. The plan also features discounts on highway tolls, loans to businesses and increased education funding. Consumer prices in Japan rose in June at their fastest pace in 10 years, causing a decrease in spending and worries about an economic slowdown (InvestmentNews, July 25).

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