Nikkei reports:

Japan to compile stimulus of around 3.5tln yen

  • Prime Minister Shinzo Abe’s cabinet will approve the stimulus package as early as December 27
  • Wwas originally expected to be worth 2 trillion yen to 3 trillion yen
  • But now to include additional spending on for local governments and aid to small and midsize businesses
  • “No new debt will be issued to pay for the extra spending. Instead, funding will come from higher-than-expected tax revenue and other sources. The government aims to see the necessary supplementary budget enacted in mid-February.” Hmmm, OK then.