Japan's Cabinet approved an new economic stimulus plan. The new funds will total more than 5-trillion yen or about 61 billion US dollars.

This is the latest in a string of measures to shore up the country's lethargic economy that has been battered by a surging yen.

The new package aims to boost Japan's gross domestic product by more than half a percentage point, create or save up to 500-thousand jobs. The government would also like to take steps to help small and medium sized businesses. The announcement comes days after the central bank cut its key interest rate to virtually zero.

The massive package will be submitted this month to parliament for approval. It is part of a supplementary budget for the current fiscal year through March, 2011. Japan intervened last month by selling its currency for the first time in more than six years to stem its gains.

The yen has since risen to a 15-year high versus the American dollar. As for focusing on the rise in the yen, Japan's Finance Minister says the country will take firm measures on its currency.

Yoshihiko Noda, Japan's Finance Minister, said, "We will continue to watch the market very closely and take firm measures on currencies, including intervention, when necessary."

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