INTERNATIONAL
Japan’s Spending Program Raises Financing Fears: The nation finalized plans to spend $6.3 trillion on public works projects in the decade starting in April, but it left open the thorny question of how to fund the massive sum. The debate fueled fears that the ambitious program, which aims to shore up an economy recovering from a severe recession and to provide for Japan’s aging population, would worsen already-shaky state finances. The new plan, endorsed by the Cabinet, would replace a $4.3-trillion spending plan being implemented over the 10 years beginning with fiscal 1991. Japan plans to allocate 60% to 65% of the money to improve living conditions and cultural and social welfare facilities.
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