The newly elected Japanese government has approved a fresh stimulus package worth 10.3 trillion yen, or $116bnm in a bid to boost the country's ailing economy in the face of continuing weak external demand.

Prime Minister Shinzo Abe announced the biggest stimulus package since the financial crisis hit in 2007.

"With this stimulus, we intend to push up the GDP to 2 percent and create about six hundred thousand jobs."

Japan, the world's third-largest economy, is currently in a recession, having contracted for two quarters in a row. The nation is burdened by public debt almost twice the size of its $5tn economy, with fears that this could worsen. Mr Abe insisted that spending was the solution to encouring economic growth in the country.

"I recognize that fiscal discipline is extremely important. I will aim towards returning the primary balance to the black. But without economic growth, there is no hope for the future of Japan and to rebuild our finances."

Mr Abe took office in December, promising to take aggressive measures to put the country’s economy back on track. He has pledged to weaken the yen to make exports, which have been hit by slowing global demand, less expensive and therefore more desirable to foreign buyers.

Written and presented by Alfred Joyner