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Japanese leader announces a new impulse Plan

The new Japanese Prime Minister Taro Aso made a new stimulus package Friday calling 15 billion yen ($ 150 million) in public expenditure to rise the second largest economy into a painful recession.

The package, which is about 3 percent in Japan, the gross domestic product, is to avoid worsening the economic situation of others, the protection of people's lives and to promote future growth, Aso said in a national televised address.

It belongs also to the global effort to promote a broad basis for the restoration, "he said.

Japan was beaten by an unprecedented slump in global demand and is now with his deep recession since the Second World War. The GDP of the country at an alarming annual rate of 12.1 percent in the quarter October to December.

Since Aso began work in September, the legislators have two stimulus packages worth 12 billion yen fiscal spending.

"The rapid deterioration of the Japanese economy is on the decline in exports and production," he said. "The labor market is also rapidly deteriorating."

Support for the unemployed, small businesses and measures to strengthen public health and nursing. It also calls for a government entity to purchase shares on the market for the decline in equity.

The plan is a total of 57 billion yen nonspending, including topics such as tax cuts and loan guarantees, Aso said he was "the greatest in history."

Aso said that the new measures be financed partly by issuing bonds.

Japan huge public debt, currently at 170 percent of GDP - the highest among industrialized nations.
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