Japan unveils $113 billion package to cushion inflation

TOKYO, Nov 02 (cnbc.com) - Japanese Prime Minister Fumio Kishida said on Thursday the government will spend over 17 trillion yen, or $113 billion, on a package of measures to cushion the economic blow from inflation, which will include tax cuts.

To fund part of the spending, the government will compile a supplementary budget for the current fiscal year of 13.1 trillion yen, Kishida told reporters.

Including spending by local governments and state-backed loans, the size of the package will total 21.8 trillion yen.

Analysts, however, doubt whether the roughly 5 trillion yen to be spent on tax cuts and payouts would do much to boost consumption and Japan’s economic growth. ...continue reading

Nov 02 (ANNnewsCH) - 政府は2日午後、定額減税や物価高対策などを盛り込んだ経済対策を閣議決定します。岸田総理大臣は、17兆円規模になると発表しました。  ...continue reading