Boosters' bonanza: Japan's deft stimulus tries to please investors
Article Abstract:
Japan's Finance Ministry on Apr 13, 1993 made public its plans to stimulate the recession-plagued economy by spending $117 billion on infrastructure. The Ministry devised a stimulus package that will not lead to deficit spending or income-tax reductions and which will help Prime Minister Kiichi Miyazawa when he journeys to the US on Apr 15. The stimulus policy assumes a GNP growth of 3.3% in the coming year, but some economists question this prediction and point to the failure of the Aug 1992 stimulus plan. The government asserts that the new plan's broader spending will work better.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Sluggish pick-up
Article Abstract:
Japan's economy shows signs of starting to revive from its three-year-old decline, though the recovery appears to be weak. Economists believe that the recession reached its low point in Jan-Mar 1993 and that GNP has gone up by 0.8% in the fiscal year to Mar 31. Most economists foresee 1.4% GNP growth for the fiscal year, far below the government's predicted 3.3%. A 3.9% jump in housing starts shows that housing investment is rising. The trade surplus and the yen will continue to rise until private demand intensifies.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Third time lucky? Tokyo slashes interest rates again
Article Abstract:
Japanese Prime Minister Morihiro Hosokawa has announced the third stimulus plan for his nation's economy since the 1992 start of their recession. The plan offers more housing loans, public construction and tax credits but has not been well received. Many see the economy as out of the Prime Minister's hands due to the lack of direct spending by the Japanese government as a whole. Business is calling for greater tax cuts after their hopes of promoting growth through cutting interest rates proved a failure.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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