Prime Minister Taro Aso unveiled a ¥23 trillion stimulus package Friday that will allow up to ¥12 trillion in public funds to be injected into financial institutions, far more than the ¥2 trillion initially planned.
During a news conference Friday evening, Aso added that the next ordinary Diet session will convene Jan. 5, an unusually early date, in order to pass the second extra budget for fiscal 2008 and the budget for fiscal 2009 as soon as possible. The stimulus package will be financed by these budgets.
"The financial crisis triggered by the United States is beginning to affect the actual economy with unusual speed," Aso said. The government "has taken measures to prioritize the security of people's lives and financial stability, but the recession has worsened beyond our imagination."