Japan hatches 20tr yen recession escape plan

The Japanese Cabinet yesterday approved fresh stimulus spending of more than 20 trillion yen (HK$1.74 trillion), rushing to fulfil campaign pledges to break the world's third-biggest economy out of its deflationary slump.

Announcing the decision, Prime Minister Shinzo Abe said the new measures were intended to add 2 percentage points to Japan's economic growth and contribute 600,000 new jobs.

via Business feed http://www.scmp.com/business/economy/article/1125918/japan-hatches-20tr-yen-recession-escape-plan