Japan eyes 880 bln yen second stimulus package

The Cabinet of Prime Minister Yoshihiko Noda will approve an 880 billion yen (about 10.7 billion U.S. dollars) second emergency stimulus package to boost the Japanese economy in two months, local media cited officials on Tuesday. The move is likely to trigger criticism from opposition parties that Noda is trying to attract voters, as it is unusual for a government to compile economic measures after dissolving the House of Representatives for a general election, Kyodo reported. The government will finance the policy package with part of the 940 billion yen in remaining reserve funds under the fiscal 2012 budget and will not issue any new debt, according to officials. The government decided on a similar package in October but the size was limited to 422.6 billion yen.