Japan finmin says extra stimulus spending to be about $28.7 billion

Japan finmin says extra stimulus spending to be approximately $28.7 billion

TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Friday the government's extra spending to stimulate the economy would total approximately 3.5 trillion yen (18.94 billion pounds) for the current fiscal year that ends in March.

The extra stimulus would include spending worth approximately 1.2 trillion yen (6.4 billion pounds) aimed at supporting low-income earners to prop up private consumption, Aso told reporters after a cabinet meeting.

The government is expected to compile the extra budget after this month.

(Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim)

Source: “Reuters”