To combat the deepening economic crisis, Prime Minister Taro Aso on Friday unveiled an additional stimulus package that calls for record actual spending of ¥15.4 trillion, or 3 percent of the country's gross domestic product.
Financed by a fiscal 2009 supplementary budget, the overall size of the package is worth more than ¥56.8 trillion on a project basis, including increased government guarantees for possible losses on private-sector loans for small and midsize companies.
Part of the financing would come from new state bond issuances worth about ¥10 trillion, bringing the total amount of new bonds to more than ¥40 trillion, also the largest-ever.
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