Japan's cabinet mulls new economic measures

0 Comments | AFP, August, 2008

TOKYO (AFP) — Japan's new cabinet on Sunday signalled the government would soon unveil comprehensive financial measures to try and erase fears of a recession in the world's second-largest economy.

Prime Minister Yasuo Fukuda named a team filled with heavyweights on Friday, vowing to jump-start the country's fortunes and in a last-ditch effort to revive his waning public support.

Newly-appointed Finance Minister Bunmei Ibuki said Japan had taken necessary steps, including last month's 74.5-billion-yen (692-million-dollar) package to help fishermen amid soaring fuel costs.

"But I think we have to take additional measures," Ibuki told a news programme at Japan's public broadcaster NHK.

Trade minister Toshihiro Nikai told the news programme that the...