Many economists criticized the 16 trillion yen stimulus package announced by the government April 24, saying its positive effects will only be temporary and won't be strong enough to put the economy back on the road to recovery.
However, some optimists believe it will drag the economy back from the brink of recession. Ryutaro Kono, a senior economist at Dai-Ichi Life Research Institute, an affiliate of Dai-Ichi Mutual Life Insurance Co., said he was disappointed with the public works-oriented stimulus package.
"I have the strong impression that this is a package for the Liberal Democratic Party to win in the upcoming Upper House election, to please its supporters (in the construction industry)," Kono said.