Japan Approves Emergency Spending Package

Posted October 26th, 2012 at 3:45 am (UTC-5)
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Japan's cabinet has approved a $5.3 billion stimulus package in an effort to stave off a recession.

Friday's emergency spending package includes more than $3 billion for regions hit hard by last year's quake-tsunami disasters and nuclear crisis, with most of it going to aid small and medium-sized businesses.

Another stimulus package is expected next month. However, the governments ability to boost spending is limited because of a legislative standoff that could leave it out of money in a few months.