Intellasia East Asia News – Japan’s ruling party executive calls for $209 billion in stimulus to tackle inflation and weak yen Sankei

A senior Japanese ruling party official suggested on Thursday that a stimulus package of more than 30 trillion yen ($208.97 billion) is needed to deal with inflationary pressures in the Japanese economy, the report reported. Sankei newspaper.

“Last year’s supplementary budget exceeded 30 trillion yen,” Koichi Hagiuda, the Liberal Democratic Party’s policy chief, told a party meeting.

“Given the rise in prices, global economic slowdown and weak yen etc. since then, more fine-tuned measures than last year are needed.”

Haguida’s remarks follow Prime Minister Fumio Kishida’s comments last week that the government will hammer out a new economic package in October as it seeks to cushion the blow rising prices are inflicting on households and businesses.

Kishida, who has seen his cabinet’s public support rates drop in recent weeks, is expected to ask his cabinet later this month to compile a new stimulus package to offset the hit from the rising cost of living, said the Kyodo news agency reported on Wednesday. The government has already unveiled short-term stimulus measures which include financial support for low-income households exempt from paying tourist taxes and an extension of petrol subsidies and other measures until the end of the year. ‘year.

($1 = 143.5600 yen) billion-stimulus-fight-inflation-low-yen-sankei-2022-09-15/

Category: Japan

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