The government on April 24 unveiled a comprehensive set of stimulus measures worth 16.65 trillion yen -- the largest package ever compiled -- in hopes of nursing the economy back to life.
While no permanent tax cuts were announced, the package includes tax cuts and public fiscal spending for social infrastructure amounting to 12.3 trillion yen -- also a record amount. But Economic Planning Agency officials refused to say how much of it is "real water," or actual spending.
A supplementary budget based on the package is expected to be compiled and presented to the Diet around mid-May.