Japan to spend over $112 bln for steps to combat inflation pain -draft

Japan's government is considering spending over 17 trillion yen ($112 billion) in a package of measures to cushion the economic blow from rising inflation, a draft of the package obtained by Reuters showed on Wednesday.

To fund part of the spending, the government will compile a supplementary budget for the current fiscal year sized around 13.1 trillion yen, according to the draft.

The daily Asahi Shimbun reported earlier on Wednesday the package of measures will likely be sized around 17 trillion yen. Prime Minister Fumio Kishida said last week his government hoped to compile the package on Nov. 2, with measures including temporary cuts to income and residential taxes as well as subsidies to curb gasoline and utility bills.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

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 new economic package to total about $112 billionJapan new economic package to total about $112 billion - Asahi
Read more »

Colombia 12-month inflation forecast to slow in October: Reuters pollColombia 12-month inflation forecast to slow in October: Reuters poll
Read more »

Probe Finds Reuters Journalist Was Killed in 'Deliberately Targeted' Strike From Israeli BorderReporters Without Borders concluded that 'two strikes in the same place in such a short space of time (just over 30 seconds), from the same direction, clearly indicate precise targeting.'
Read more »

19 First Alert Days: Hard freeze for some tonight; winter mix Tuesday night/WednesdayChilly today with scattered showers.
Read more »

Aurora Holiday Food Drive begins WednesdayAs it has for the the previous 15 years, the 16th annual food drive starts Nov. 1 and ends the day before Thanksgiving, which this year is Nov. 22.
Read more »

Committee approves acquisition of Morgan Park site for Chicago migrants; Council to vote WednesdayWith cold weather moving in, the Chicago City Council is looking to move ahead with plans to acquire land for an additional shelter for asylum seekers.
Read more »