Japan released a third plan to support the economy for the year.

Prime Minister of Japan Taro Aso presented a third of the account this year plan to stimulate the economy, the funding of which will require 23 trillion yen (255 billion dollars), reported AFP. It is expected that 10 trillion yen economy will get through lower taxes, including real estate taxes. Another 13 trillion yen would be provided by various companies in the form of loans and guarantees for their debt obligations.
The Japanese Government also intends to March 2009 to spend three trillion yen (33 billion dollars) to purchase stock of bonds the country's largest companies to support them in an adequate level of liquidity. Buying stock of bonds will Development Bank of Japan, transfers Reuters.
Recall at the end of October, the Japanese government allocated 26.9 trillion yen (297.8 billion dollars) to support the economy. In mid-October, Japan has submitted a plan for the financing of which was spent 1.81 trillion yen (19.9 billion dollars).
In the third quarter of 2008, GDP declined by 0.4 per cent, while the prior quarter - at 2.4 percent. Thus, the Japanese economy entered a recession for the first time since 2001. It is expected that the economic downturn in the country will last at least until mid-2009.