TOKYO — Japan’s Ministry of Finance will set aside an additional 1 trillion yen ($11.5 billion) or more to fund economic stimulus measures in the fiscal 2009 second supplementary budget, business daily Nikkei reported Wednesday. The funding will come from such means as tapping a decrease in interest payments on government bonds, the report said. Stimulus measures are now expected to reach roughly 4 trillion yen in actual spending — excluding such items as loan guarantees — compared with the early government projection of about 2.7 trillion yen. Long-term interest rates have stayed below the ministry’s initial projection of 2%, leaving the government with unspent interest payments of about 700 billion yen as of Nov. 30, and 150 billion yen in emergency funds set aside by the previous government to deal with the financial crisis are sitting untapped, Nikkei reported. The ministry is also considering dipping into the 350 billion yen in reserves for disaster relief and other emergency situations.
Japan To Add $11.5 Billion In Stimulus: Nikkei
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