By IANS,
Tokyo : Japanese Prime Minister Yoshihiko Noda and his cabinet approved a 422.6 billion yen ($5.3 billion) emergency fiscal stimulus Friday to prevent Japanese economy from recession.
The emergency measures, including the recovery plan of the March 11 earthquake and nature disaster countermeasures, will be started at the beginning of 2013, reported Xinhua.
The fiscal stimulus involves expenditure valued at more than 750 billion yen from regional governments.
The stimulus plan also focuses on spurring growth and employment in sectors. The government will spend 105.1 billion yen including 41.1 billion yen to promote greater use of clean, renewable energy in households and factories.
Japan’s economy was affected by the global economic downturn and sovereign debt crisis in Europe mainly through export.