MOSCOW (Sputnik) — The House of Councillors, the upper house of the parliament, passed the additional package earlier in the day, bringing the total budget to 100 trillion yen ($969 billion) for the current fiscal year, the Kyodo news agency said.
Most of the money will be spent to finance a broader economic stimulus package of 28 trillion yen ($271 billion) passed in August. It will also be used for infrastructure and welfare services. The package is seen as a way to spur economic growth amid weak consumer demand and falling investments.
Japan is struggling with the financial crisis, with the government's debt amounting to nearly 250 percent of annual economic output. In 2012, Prime Minister Shinzo Abe announced measures to revive economy by halting stagnation, including through introduction of structural reforms, monetary easing and fiscal stimulus.
