Japan is expected to unveil a six trillion yen (about $67 billion) stimulus package to boost the economy hit by recession, says a media report. The new plan for the world's second largest economy would be in addition to the 26.9 trillion yen package announced in October. "Japan's deeply embattled Prime Minister, Taro Aso, is today expected unveil an additional six trillion yen economic stimulus package in a last-ditch bid to rescue the world's second biggest economy from its sharpest recessionary plunge since the Second World War," The Times reported today. Noting that Aso's plan is aimed at protecting basic livelihoods, the report said that the proposals are expected to include efforts to halt rising bankruptcies among property firms and boost employment in the regions. Moreover, the skyrocketing yen has adversely impacted the competitiveness of Japanese exports and falling consumer markets in other major economies, including the US has squeezed corporate profits in the country. "The giant new stimulus measures come amid rising terror within the ruling Liberal Democratic Party bloc that Japan's economic woes could soon unravel the country's famously stable social fabric," the report said. The 26.9 trillion yen package announced earlier included tax cuts, benefits sent directly to households and loans for small businesses.

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