Japan has approved a $250 billion economic stimulus package centered around initiatives intended to boost incomes. The broad plan passed by the Cabinet on Friday is the centerpiece of Prime Minister Shigeru Ishiba’s recently installed administration.
FILE - People walk along a pedestrian crossing at Ginza shopping street in Tokyo, on March 31, 2023, in Tokyo. TOKYO — Japan approved a 39 trillion yen economic stimulus package Friday centered around initiatives it said were aimed at boosting individual incomes.
The plan is designed to instill a sense of “well being” in the Japanese people, the government said, using the English phrase., the long-term outlook for the economy and for the country’s standing in the world is uncertain. The plan includes measures to address the country’s falling birthrate, which is one of the lowest among developed nations, help for
The government says signs of growth are evident, but Japan must avoid a negative spiraling of lower prices similar to an earlier protracted bout of deflation and attain sustainable wage increases to support growth.
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