21.6 C
New York
Tuesday, July 5, 2022

Japan to ramp up public works spending to decade-high next year: Nikkei

Japan to ramp up public works spending to decade-high next year: Nikkei© Reuters. Workers resurface a public road in Tokyo, Japan

TOKYO (Reuters) – Japan will spend over 3 trillion yen ($27 billion) to repair aged infrastructure over the three years through March 2021 and ramp up public works spending to a decade-high next year to ease the hit to the economy from next year’s scheduled sales tax hike, the newspaper reported on Wednesday.

Of the total amount, the government will appropriate roughly 1 trillion yen in the state budget for next fiscal year that begins in April 2019, the paper said without citing sources.

That would put total public works spending for next fiscal year at around 7 trillion yen, up 20 percent from the previous year and the highest level in a decade, the Nikkei said.

($1 = 112.7500 yen)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

11,297FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles