10 January 2013 Last updated at 20:24 ET
The Japanese government has approved a fresh 10.3 trillion yen ($ 116bn; £72bn) stimulus package in an attempt to spur a revival in its economy.
The package will include infrastructure spending, as well as incentives for businesses to boost investment.
The government said the stimulus is likely to boost Japan’s gross domestic product by two percentage points.
Japan’s economy has been hurt by a dip in exports amid slowing global demand and subdued domestic consumption.
The government said that it will also work closely with Japan’s central bank, the Bank of Japan (BOJ), to take further measures to revive the economy.
“We’ll build a framework for strengthening cooperation between the government and the Bank of Japan,” the government said in a statement.
“We strongly expect the BOJ to conduct aggressive monetary easing with a clear price target.”
BBC News – Business
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