home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
Time - Man of the Year
/
Time_Man_of_the_Year_Compact_Publishing_3YX-Disc-1_Compact_Publishing_1993.iso
/
moy
/
090792
/
09079914.000
< prev
next >
Wrap
Text File
|
1993-04-08
|
1KB
|
32 lines
THE WEEK, Page 22BUSINESSBut Will It Work?
Japan's government announces an $86 billion economic rescue
plan
Japan has been facing one of its most serious economic
downturns since World War II, with the stock market trading at
less than half its peak value of late 1989 and investors
convinced that the government would do little to stop the slide.
But last week officials announced an unprecedented $86 billion
rescue package. Amounting to 2.3% of GNP, the bailout will
increase public works programs, assist small- and medium-size
businesses and provide tax incentives for industrial investment.
The government also promised to ease stock-purchase regulations
and help banks sell real estate they now hold as collateral on
bad loans.
Investors quickly voted with their money to support the
plan. The Nikkei stock average soared even before the details
were announced, closing the week at 17,970.79 points, an 11%
gain. But most economists remain skeptical. Said one: "The
Nikkei is just being deceived. There remains a lot of
uncertainty about what results the package will bring."