According to media source, Japanese Prime Minister Fumio Kishida announced on Thursday a stimulus package worth 113 billion dollars aimed at easing the pain from inflation. Voters in the world’s third-largest economy have been squeezed by rising prices since the Ukraine war while Kishida’s poll ratings are at their lowest since taking office in 2021.
As per media reports, This package is expected to total in the lower range of the 17 trillion yen (113.2 billion dollars) level,” Kishida said in a government meeting with ruling party officials. “The most important pillar of these comprehensive economic measures is to strengthen supply capacity to enhance the earning power of companies,” Kishida said.
According to media source, The stimulus will be submitted to the parliament for approval.”We are seeing that the tide is turning from the vicious cycle of deflation — symbolised by low prices, low wages and low growth,” Kishida said on Thursday. “For the first time in 30 years, we are facing a great opportunity to move to a new economic stage,” he added.
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