BBC World Service

Japanese economy gets a $224 billion boost

Rupert Wingfield-Hayes Jan 11, 2013
HTML EMBED:
COPY
BBC World Service

Japanese economy gets a $224 billion boost

Rupert Wingfield-Hayes Jan 11, 2013
HTML EMBED:
COPY

The Japanese economy is about to get a big boost. The new government in Tokyo has unveiled a $224 billion stimulus plan in its latest bid to support the world’s number three economy. The money will be spent on rebuilding areas hit by the devastating 2011 tsunami and beefing up the country’s military.

Stimulus spending was one of the election pledges of Prime Minister Shinzo Abe, who was swept into office in a landslide victory last month. This package is the latest in a series made by successive governments. However, according to the BBC’s Rupert Wingfield-Hayes in Tokyo, the sheer size of the plan will give the Japanese economy a significant shot in arm.

Click on the audio player above to hear more.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.