Japan needs more stimulus above already injected $763 billion

Japanese local media has disclosed that the country Prime Minister, Taro Aso, will announce details of the plans for another stimulus package later Tuesday.

Kaoru Yosano, Finance Minister of Japan stated he expected the prime minister “to issue some kind of instructions” for a new spending plan to strengthen the economy, as well.

There are also forecasts that the prime minister will reveal government's plans on selling more bonds to finance stimulus. 

It has also been recently said that the Japan's ruling Liberal Democratic Party project team in charge of dealing with the international financial crisis is working on legislation to authorize the prime minister to implement purchasing stocks with public funds directly from the market. 

The total of the three stimulus packages introduced by the Japanese government so far makes 75 trillion yen ($763 billion), reported Dow Jones. 

However, according to the Japanese government data, household spending and income in Japan fell in February, mainly due to increasing unemployment rate, which reached its highest level in three years.