Japan submits record extra budget stimulus

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Source: CCTV.com | 04-28-2009 11:12

The Japanese government has submitted a record extra budget that calls for 15.4 trillion yen -- or 159 billion US dollars -- in government spending to finance a new stimulus package.

Cherry blossom blooms in front of the window of a  securities company in Tokyo on April 1 as businessmen  check stock prices. Tokyo stocks jumped 3.74 percent on  Thursday after the Japan's ruling party approved a  stimulus spending plan that amounts to more than 15.4  trillion yen ((154 billion dollars). (AFP/File/Toshifumi Kitamura)

The administration of Prime Minister Taro Aso presented the budget before the The National Diet - Japan's legislature - insisting that the economic measures included in the plan will prevent Japan from entering a downward spiral.

Kaoru Yasano, Japanese finance minister, said, "Substantial financial effort has been made since the financial summit held on April 2nd to improve growth and employment. The Japanese government has decided to take measures to combat the economic crisis．The figures come to a total of 14.7 trillion yen in expenditure."