Japan’s government is considering a stimulus package worth approximately 17 trillion yen (about $110 billion), marking the first major economic initiative under Prime Minister Sanae Takaiichi, according to the Nikkei newspaper. The move underscores the administration’s focus on expansionary fiscal policy amid ongoing economic challenges. n nThe supplementary budget allocated to fund this package is expected to reach around 14 trillion yen, a development that could further increase Japan’s already substantial public debt. n nSince assuming office in October, Takaiichi has pledged significant spending measures aimed at alleviating the burden of rising living costs and boosting investment in strategic sectors such as artificial intelligence and semiconductors. n nNikkei reported that the final size of the package, currently being prepared by the Ministry of Finance, may vary depending on negotiations among ruling coalition parties. n nProposed measures include expanded income tax relief, gasoline tax reductions, subsidies to help households manage utility bills, and funding for regional governments to implement food assistance programs. n nThe administration aims to finalize the package and secure cabinet approval by November 21. n— news from CNBC Arabia n
— News Original —nJapan Considers $110 Billion Stimulus Package Under New Leadership nJapan’s government is considering spending around 17 trillion yen ($110 billion) in the first economic stimulus package under new Prime Minister Sanae Takaiichi, highlighting the administration’s focus on expansionary fiscal policy, according to Nikkei newspaper. n nThe newspaper indicated that the supplementary budget to fund the package will likely amount to about 14 trillion yen, a move that could increase Japan’s already massive public debt. n nRead also: Japan’s Prime Minister: We will not renegotiate the investment package with America n nTakaiichi has pledged since taking office last October to roll out a large package of spending measures to ease the burden of rising living costs on the economy and boost investment in growth areas such as artificial intelligence and semiconductors. n nNikkei said the size of the package being prepared by the Ministry of Finance could change depending on upcoming negotiations between parties in the ruling coalition. n nIt added that the package will include larger income tax exemptions, tax cuts on gasoline, subsidies to support utility bills, and funds allocated to regions for spending on food aid. n nThe administration is expected to finalize the package and obtain cabinet approval by November 21.
