OTHER NEWS - Dec. 28, 1992

Japanese Budget Plan Blasted: Japanese newspapers criticized Prime Minister Kiichi Miyazawa for his proposed austerity budget, accusing him of missing the opportunity to jump-start the ailing economy. The Cabinet on Saturday formally adopted a draft budget for the coming fiscal year featuring the lowest growth in defense spending in 33 years and a sharp rise in public works outlays. Planned spending for the year beginning in April grows by just 0.2%, to $588 billion. The financial daily Nihon Keizai Shimbun said: “From a wider perspective, this is just not enough. The government is making a fundamental error of adopting an austerity budget amid a recession.”