The government on Monday unveiled a 24 trillion yen economic stimulus package -- its largest to date -- aimed at posting a positive economic growth in fiscal 1999 and creating 1 million new jobs.
The package, the eighth since the burst of the economic bubble in 1991, amounts to 17 trillion yen excluding tax cuts, eclipsing the 16.65 trillion yen package adopted in April.
The fiscal austerity law, which binds government spending, will be frozen to implement the large-scale stimulus measures. A relevant bill will be submitted to an extraordinary Diet session later this month, but how long the law will be frozen is not certain, government officials said.