Japan's huge fiscal stimulus stuck in implementation trap

Japan has been left with unspent budget totalling 22.4 trillion yen ($161.41 billion) from the last fiscal year, a draft seen by Reuters showed on Tuesday, which analysts say may raise questions about the way stimulus measures are implemented. The figures, calculated by the Ministry of Finance as it settles the accounts for the last fiscal year ended in March, may raise questions around the efficiency of implementing heavy fiscal stimulus, some analysts say. "It's not the size of stimulus that matters, but the question is how it should be implemented more efficiently," said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute.