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There is no 10 trillion yen stimulus
There was a leak story in the Nikkei today (July 26) on the economic stimulus plan to be unveiled in early August. It is the stimulus Prime Minister Abe spoke of in the immediate aftermath of the Upper House election on July 10. The stimulus was supposed to exceed 10 trillion yen, 2% of Japan’s GDP. You can read more details in the Nikkei, but according to the article, the stimulus to be included in the FY2016 supplementary budget will now be around 2 trillion yen, the bulk of which will be spent on old fashioned public works. The economic effect of the stimulus, defined as a “net increase in fiscal spending”, ... (full story)