The Japanese government has recently approved the budget for 2013. The new plan is based on the concept with an accent on economic stimulation.
The public spending will be reduced down to ¥71 trillion. The public borrowings will also be reduced down to ¥44 trillion. ¥22 trillion will be allocated for debt servicing.
Experts say it will be extremely difficult for the Japanese authorities to stimulate the national economy along with spending cuts.
The new basic strategy of economic revival focuses on 3 economic sectors: energy sector, healthcare and social maintenance.
Forex.
According to , the Japanese Yen keeps weakening against the US Dollar. The experts report that USDJPY is forming wave В(С) inside a bigger-scale downswing.
A further rally will probably encounter resistance around 79.95 and 80.08. The recent bearish move will resume as soon as the price breaks below 77.91 and 77.65.
