AlHijjah 10, 1433, Oct 26, 2012, SPA -- Japanese Prime Minister Yoshihiko Noda's cabinet Friday approved 422.6 billion yen (5.3 billion dollars) in spending to prop up the world's third-largest economy. The government said the package aims to promote clean and renewable energy use and help the post-2011 disaster reconstruction in the north-east, disaster prevention and stem cell research. It also earmarked 17 billion yen to strengthen the Japan Coast Guard, dpa reported. The package will be financed mainly by existing funds, so the government won't need to issue any new bond. The Cabinet Office expected the stimulus to increase gross domestic product by more than 0.1 percentage points.
