-
Japan govt: stimulus to add 0.6 pct point to GDP over next 3 yrs
Japan's government said on Tuesday it expects a stimulus package it approved last week to add around 0.6 percentage point to gross domestic product over the next three years due to gains in consumer spending and capital expenditure. The government also raised its economic growth forecast for next fiscal year due to expectations that domestic demand will strengthen. However, the government said it expects consumer prices to rise 1.2 percent in fiscal 2016/17, which is still short of the Bank of Japan's 2 percent inflation target due to falling oil prices. The $27 billion stimulus package features cash handouts for ... (full story)