www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

WORLD> Asia-Pacific
Japan proposes record budget to bolster economy
(Agencies)
Updated: 2008-12-20 20:06

TOKYO -- Japan unveiled a budget proposal Saturday that, if approved, will push spending to record levels as the government scrambles to battle an ever-deepening recession.

A pedestrian walks in front of a share prices board in Tokyo. Japan unveiled a budget proposal Saturday that, if approved, will push spending to record levels as the government scrambles to battle an ever-deepening recession. [Agencies]

Related readings:
 Japan cuts key rate to 0.1 percent
 Japan sees sharpest biz confidence fall in 34 years
 Japan, EU launch new measures as US car talks crash
 Japan announces new economic stimulus package

The Finance Ministry's draft budget suggested a spending increase of 6.6 percent to 88.5 trillion yen ($990.9 billion) for the next fiscal year, the biggest ever figure in an initial proposal.

The world's second-largest economy fell into a recession in the third quarter, and the signs since then point toward more misery ahead. The latest outlook by the Cabinet Office projects Japan's economy to shrink this fiscal year and manage only flat growth the following year.

The budget proposal said general spending will rise to 51.7 trillion yen ($578.9 billion) in the year starting April, even though tax revenue is projected to fall 13.9 percent to 46.1 trillion yen ($516.2 billion).

As a result, Japan will see its primary budget deficit jump to more than 13 trillion yen ($145.6 billion) from 5 trillion yen ($56 billion) this year, and will boost bond issuances by 31.3 percent to cover the revenue shortfall.

The draft budget is scheduled for Cabinet approval on Wednesday and will likely be submitted to parliament in January.

The expansion is likely to derail Tokyo's efforts to slim down toward its goal of balancing the budget by 2011. But Prime Minister Taro Aso, facing plummeting popularity ratings, has made it clear that this is no time for fiscal discipline.

On Friday the central bank cut its key interest rate to 0.1 percent, joining the US Federal Reserve in pushing borrowing costs close to zero. And in its gloomiest assessment this year, the Bank of Japan cited the harsh impact of tumbling exports, weakening domestic demand, job losses and growing credit crunch.

"Under these circumstances economic conditions have been deteriorating and are likely to increase in severity for the immediate future," it said in its statement.

The prime minister has responded by introducing a slew of fiscal stimulus measures, including a 27 trillion yen ($302.3 billion) package in October and a 43 trillion yen ($481.5 billion) plan earlier this month.

The Cabinet on Saturday approved a 4.79 trillion yen ($53.6 billion) supplementary budget for this fiscal year through March to fund some of the stimulus steps. Among Aso's measures are expanded credits for small businesses, lower highway tolls and a cash payout to every household to spur spending.

Still, it may not be enough to trigger a turnaround for Aso and his Liberal Democratic Party, which looks increasingly likely to lose its decades-long grip on political power.

The embattled Aso has repeatedly come under fire for verbal gaffes and a lack of leadership through the global economic crisis. His approval rating has plunged to about 20 percent in the three months since taking office.

主站蜘蛛池模板: 麻豆国产96在线 | 日韩 | 久久福利青草狠狠午夜 | 精品国产成人a区在线观看 精品国产成人a在线观看 | 91精品啪在线看国产网站 | 在线视频三区 | 国产精品区牛牛影院 | 成人国产精品一级毛片天堂 | 草在线视频 | 精品网址 | 欧洲一级毛片免费 | 日本加勒比系列 | 亚洲精品美女国产一区 | 精品久久精品久久 | 午夜三级a三点 | 欧美性xxxx18 | 九九九精品 | 欧美另类69xxxxx极品 | 亚洲精品一级片 | 亚洲美女福利视频在线 | 做爰成人五级在线视频| 久久日本三级韩国三级 | 中国一级特黄剌激爽毛片 | 综合久久久 | www.日本高清视频.com | 手机看片精品国产福利盒子 | 国产成人香蕉久久久久 | 一个人看的www日本视频 | 特级毛片www欧美 | 激情宗合 | 九九视频免费在线观看 | 久久精品二三区 | 国产精品莉莉欧美自在线线 | 久久福利青草精品资源站 | 亚洲精品中文字幕在线 | 国产一级一片免费播放视频 | 亚洲免费观看网站 | 韩国在线精品福利视频在线观看 | 91视频站| 久久香蕉国产线看观看式 | 女人一级特纯黄大片色 | 国产精品成人影院 |