Tokyo: Japanese Premier Taro Aso on Tuesday said his government was drafting new stimulus measures aimed at pushing the world’s second-largest economy out of recession.
“Considering the current situation, I have ordered the formulation of a new economic package... by mid-April,” he told a nationally televised news conference, without putting a price tag on the spending bill.
“This will include a new extra budget,” he said, referring to what would become his fourth stimulus package since October.
The premier, set to leave later in the day for the Group of 20 summit in London, said the new stimulus plan should include measures to build a low-carbon society and promote Japanese culture.
“The environmental energy sector is an area where Japan is the most advanced in the world — for example, solar power generation and environmentally friendly vehicles,” Aso said.
“We would like to lead the low-carbon revolution with Japanese technologies.”
Reports earlier said the new stimulus package will include a renewable energy push that will increase the use of solar power by 20 times the current level in the next decade.
The extra spending is reportedly expected to be worth more than 10 trillion yen (102 billion dollars) and aims to help meet the goal of creating two million new jobs over the next three years.