Japan ruling party exec urges $209 billion stimulus to combat inflation, weak yen - Sankei
Reuters
Published Sep 15, 2022 07:33AM ET
By Kantaro Komiya and Daniel Leussink
TOKYO (Reuters) - A senior Japanese ruling party official on Thursday suggested a stimulus package of more than 30 trillion yen ($208.97 billion) is needed to address inflationary pressures in Japan's economy, the Sankei newspaper reported.
"The supplementary budget of last year exceeded 30 trillion yen in size," Koichi Hagiuda, the Liberal Democratic Party's policy chief, was quoted as saying at a party meeting.
"Considering the price rises, global economic slowdown and weak yen and so on since then, more fine-tuned measures than last year are necessary."
Haguida's remarks follow comments from Prime Minister Fumio Kishida last week that the government will draw up a fresh economic package in October as it seeks to cushion the blow rising prices are delivering to households and businesses.
Kishida, who has seen his cabinet's public support rates decline in recent weeks, is expected to instruct his cabinet later this month to compile a fresh stimulus package to offset the hit from rising living costs, Kyodo news agency reported on Wednesday.
The government has already unveiled near-term stimulus steps that include financial support to low-income households exempt from paying resident taxes and an extension of subsidies for gasoline and other measures until year-end.
($1 = 143.5600 yen)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.