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Japan PM to brief Tues, stimulus plan details likely

Published 03/30/2009, 03:43 AM
Updated 03/30/2009, 04:08 AM

(For more stories on the Japanese economy, click)

TOKYO, March 30 (Reuters) - Japanese Prime Minister Taro Aso will hold a news conference on Tuesday, where he is expected to map out a new economic stimulus plan following last week's passage of the next fiscal year's budget.

With exports tumbling amid the global economic crisis, Japan is mired in its deepest recesssion since World War II and lawmakers are scrambling for ways to ease the pain.

A new stimulus package would be Japan's third since last August.

The news conference will be held from 5.00 p.m. (0800 GMT).

Japanese media say the package will run for three years and aim to create 60 trillion yen ($612 billion) worth of demand and two million jobs.

Japan's parliament on Friday passed an 88.5 trillion yen budget for the fiscal year from April, the nation's biggest-ever budget. (Reporting by Yuzo Saeki; Editing by Edwina Gibbs)

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