Japan economic package to total $182 billion: sources

Tue Dec 3, 2013 6:25pm EST
 
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TOKYO (Reuters) - A Japanese government spending package, aimed at bolstering the economy ahead of a national sales-tax hike, will total about $182 billion, people familiar with the process said on Wednesday.

The package, to be approved by Prime Minister Shinzo Abe's government on Thursday, will be worth 18.6 trillion yen ($181.6 billion), the sources told Reuters on condition of anonymity.

The core of the package will be a supplementary budget that sources said on Tuesday will be between 5.4 trillion yen and 5.6 trillion yen.

Besides central government outlays, the headline figure also includes spending by local governments and corporations, the sources said.

Measures include steps meant to boost competitiveness; assist women, youth and the elderly; accelerate reconstruction from the March 2011 earthquake and tsunami; and build infrastructure for the 2020 Tokyo Olympics, they said.

($1 = 102.4450 Japanese yen)

(Reporting by Takaya Yamaguchi; Writing by William Mallard; Editing by Dominic Lau and Eric Meijer)

 
Businessmen are seen inside a high-rise office building in Tokyo November 21, 2013. REUTERS/Issei Kato