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GOVERNMENT OF JAPAN ANNOUNCES ECONOMIC STIMULATION MEASURES

 GOVERNMENT OF JAPAN ANNOUNCES ECONOMIC STIMULATION MEASURES
 WASHINGTON, Aug. 28 /PRNewswire/ -- The Embassy of Japan issued the following:
 The Japanese economy is currently facing a severe situation resulting primarily from stagnation in final demand and falling asset values. Although the world economy is recovering, the pace of recovery is indeed slow. Furthermore, in view of Japan's current account surplus and its relation to the world economy, it is clear that now is the time to make efforts to firmly reinforce the domestic-demand led structure of the Japanese economy.
 Against this background, today the Government of Japan announced a package of economic measures designed to ensure that the Japanese economy remains firmly planted on its current path of domestic-demand led economic growth.
 The current 10.7 trillion yen ($86.57 billion) package of economic measures, equivalent to 2.3 percent of the Japanese GNP, includes an 8.6 trillion yen ($69.58 billion) increase for public works projects. This is the largest such economic package ever undertaken by the Government of Japan.
 Furthermore, the current economic slowdown is strongly characterized by the negative effects of the basic financial factors such as stagnation in stock prices and real estate values and their negative influence on corporate balance sheets of financial institutions. The current package places serious importance on invigorating the stock market and achieving stability in the financial system.
 The current package of economic measures is designed to fully achieve the domestic goal of stimulating the economy and simultaneously meet international expectations for consolidating the domestic-demand led structure of the Japanese economy.
 -0- 8/28/92
 /CONTACT: Shigeo Matsutomi of the Embassy of Japan, 202-939-6761/ CO: Embassy of Japan ST: District of Columbia IN: SU: ECO


IH -- DC022 -- 4517 08/28/92 15:40 EDT
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Publication:PR Newswire
Date:Aug 28, 1992
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