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Japan's Latest Tonic Carries $104-Billion Price Tag : Asia: Officials will submit second supplementary budget in effort to revive economy.

August 25, 1995|From Reuters

TOKYO — Japan plans to announce economic stimulus measures worth about $104 billion next month, in what will be the third attempt in five months to revive its stumbling economy, officials said Thursday.

Government officials said the package, to be announced Sept. 20, will include additional spending on public works and steps to eliminate bad loans held by Japan's financial institutions.

"The government is putting most emphasis on the economy and would like to announce the most effective measures to help the economy as soon as possible," a senior official said.

Prime Minister Tomiichi Murayama has said that the government will make every effort to ensure economic recovery in the latter half of fiscal 1996, which ends March 31.

In July, the government first admitted that the economy had stalled after struggling for some time to make a clear recovery.

Until then, officials had asserted that the economy was still recovering, albeit moderately, from the recession that followed the bursting of Japan's 1980s economic "bubble" of inflated land and stock prices.

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