The Liberal Democratic Party decided on Thursday to present an economic stimulus package by January 11, in order to put Japan’s economy back on track.
After the package will be ready, the new government, to be led by LDP leader Shinzo Abe, will make a decision regarding a supplementary budget on January 15.
“We will work out the budget by giving up year-end and New Year holidays,” LDP Policy Research Council Chairman Akira Amari told.
LDP wants to have the fiscal 2013 budget submitted to parliament by February. However, with priority given to the supplementary budget, the submission might be delayed until March, according to Akira Amari.
The sum for the supplementary budget was not mentioned, but Amari said “It will be sufficient enough to pull Japan out of deflation.”
Shinzo Abe, who is set to become Japan’s prime minister next Wednesday, stated the party he leads will give priority to combating Japan’s chronic deflation and taking measures for stimulation of economic growth.