Japan’s government plans to implement a $154 bln stimulus package to help jumpstart the economy, according to Bloomberg News. The measures would represent about 3% of GDP.
“Japan has had the worst economic deterioration among developed nations, and that’s pushed the government to come up with a package of this size,” said Junko Nishioka, an economist at RBS Securities Japan Ltd. in Tokyo.
The package will be the largest ever for a single year, surpassing that of the Asian financial crisis in 1998. [via Bloomberg]