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News Summary: Japan revs up economic stimulus
Thursday - 1/10/2013, 11:26am EST
(AP) - STIMULUS PLAN: Japan's ruling Liberal Democratic Party and its government were in the final stages of drafting fresh stimulus spending Thursday reportedly totaling more than 20 trillion yen ($227 billion), rushing to fulfill campaign pledges to break the world's third-biggest economy out of its deflationary slump.
THE DETAILS: The bulk of the spending package would go to support industrial revitalization and reconstruction from Japan's March 2011 earthquake and tsunami disasters. It also includes a request to raise military spending.
THE BACKGROUND: Prime Minister Shinzo Abe took office last month vowing to make reviving the economy his top priority.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)