AS-Japan-Stimulus 2ndLd-Writethru 04-10
Japan unveils stimulus plan
TOKYO — Japanese Prime Minister Taro Aso unveiled a new stimulus package today, calling for $150 billion in government spending to lift the world’s second-largest economy from a painful recession.
The package, equivalent to about 3 percent of Japan’s gross domestic product, is intended to ward off further economic deterioration, protect people’s livelihoods and foster future growth, Aso said in a nationally televised speech.
It is also part of the global effort to spur a broad recovery, he said.
Japan has been battered by an unprecedented collapse in global demand and now faces its deepest recession since WW II.