The Japanese government is planning around JPY 12 trillion in stimulus spending for the economy in the fiscal year 2012, reports said Monday.
Out of the total planned spending, around JPY 2. 6 trillion will be used to fund pension scheme, reports said. As much as JPY 4 trillion will be allocated for public work projects, Kyodo news agency said.
The economy slipped into recession in the third quarter as the GDP shrank an annualized 3. 5 percent during the period following 0. 1 percent contraction in the second quarter.
2013-1-7 10:50