Japanese Prime Minister Fumio Kishida has announced a stimulus package of more than 17 trillion yen ($113 billion) that includes tax breaks and benefits for low-income households. The plans is being criticized by some observers as populist spending that would worsen Japan’s national debt.
Japan’s Prime Minister Fumio Kishida speaks during a news conference at his office building in Tokyo, Thursday, Nov. 2, 2023. Japan’s Prime Minister Fumio Kishida speaks during a news conference at his office building in Tokyo, Thursday, Nov. 2, 2023. Japan’s Prime Minister Fumio Kishida speaks during a news conference at his office building in Tokyo, Thursday, Nov. 2, 2023. Japan’s Prime Minister Fumio Kishida speaks during a news conference at his office building in Tokyo, Thursday, Nov.
The government will fund the spending by compiling a supplementary budget of 13.1 trillion yen for the current fiscal year. All combined, the plan is estimated to boost Japan’s gross domestic product by about 1.2% on average, according to a government estimate. Takahide Kiuchi, executive economist at the Nomura Research Institute, said the package’s effect on the economy will be limited because temporary tax cuts and payouts tend to go to savings. Such measures won’t change consumer behavior and will have limited impact on the mid- to long-term economy, he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan's Kishida announces $113-billion package to combat inflation painJapan's Kishida announces $113-billion package to combat inflation pain
Read more »
Japan's Kishida announces $113-bln package to combat inflation painJapanese Prime Minister Fumio Kishida said on Thursday the government will spend over 17 trillion yen ($113 billion) in a package of measures to cushion the economic blow from rising inflation, which will include tax cuts.
Read more »
Japan's Kishida announces $113-bln package to combat inflation painJapanese Prime Minister Fumio Kishida said on Thursday the government will spend over 17 trillion yen ($113 billion) in a package of measures to cu...
Read more »
Japan unveils $113 billion package to cushion inflationThe Japanese government will spend over 17 trillion yen, or $113 billion, on a package of measures to cushion the economic blow from inflation.
Read more »
Akie Iwai of Japan leads LPGA's Japan Classic with an opening round 9-under 63.Akie Iwai of Japan has shot a 9-under 63 to lead the first round of the LPGA’s Toto Japan Classic. Three other Japanese players — Nasa Hataoka, Yuna Nishimura, and Mone Inami — were a stroke back after rounds of 64 at the Taiheiyo Club in north central Japan. Defending champion Gemma Dryburgh of Scotland was four back on Thursday after a 67.
Read more »
Japanese automaker Toyota's profits zoom on cheap yen, strong global salesToyota’s profit in the latest quarter jumped nearly threefold from a year ago as vehicle sales grew around the world and a cheap yen boosted the Japanese automaker’s overseas earnings
Read more »