Japan’s government approved a stimulus bill worth $29 billion aimed at helping the country’s lagging regions and households through steps like subsidies and merchandise vouchers. Analysts are skeptical about how much growth the government can spur.
The government said it expected the stimulus plan to increase Japan’s gross domestic product 0.7 percent, ¥1.8 trillion will be spent on poor families and small companies as well as ¥1.7 trillion will be used for disaster prevention and rebuilding disaster-hit areas; however, Masaki Kuwahara, a senior economist at Nomura Securities, said that it could push up G.D.P. about 0.2 percent.
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