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Japan's PM Ishiba to Unveil ¥21.9 Trillion Stimulus Package with Total Impact of ¥39 Trillion
Nov 21, 2024, 04:25 AM
Japan is set to announce an economic stimulus package worth approximately ¥21.9 trillion ($140 billion), with some sources such as Reuters citing amounts around $90 billion. Prime Minister Ishiba plans to unveil the package to address challenges ranging from inflation to wage growth, and approval is expected this week. The government is adjusting the supplementary budget for fiscal 2024 to around ¥13.9 trillion to fund the measures. The overall impact of the package is expected to be about ¥39 trillion, with allocations including ¥10.4 trillion for economic growth, ¥4.6 trillion for inflation measures, and ¥6.9 trillion for safety measures. The package includes a ¥30,000 payment to low-income households and will reinstate electricity and gas subsidies from January to March next year.
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