Japanese Prime Minister Shinzo Abe's cabinet on Thursday approved 5.5 trillion yen (54 billion dollars) in economic stimulus measures in a bid to offset the possible impact of a 3 per cent sales tax increase in April, dpa reported. The money will be spent on grants to support smaller companies and public works projects, especially targeting those in areas hit by the March 2011 earthquake and tsunami, the government said. The government also plans to invest some of the money in new infrastructure ahead of the 2020 Tokyo Olympics, the government said. "I believe we can ensure a path toward the end of deflation and economic revitalization by swiftly implementing the economic stimulus package," Abe said.
