Japan prepares new economic stimulus package.

SGGP 26/09/2023 07:20

According to the Japan Times, on September 25, Japanese Prime Minister Fumio Kishida announced the main policy pillars of a new economic stimulus package aimed at boosting wages and helping households cope with rising prices.

The economic stimulus package is expected to include measures to control inflation and boost wage growth. Mr. Kishida also said he would closely monitor the currency market, while warning investors who are trying to sell off the yen.

Late last month, Prime Minister Kishida set a target of increasing the national minimum wage by nearly 50% over the next decade, specifically from 1,004 yen per hour this year to 1,500 yen per hour (US$10.29) between 2030 and 2040. This move demonstrates the government's determination to achieve a consumption-driven economic recovery. Japan's overall inflation rate has remained above its 2% target for 17 months, as of August. The Bank of Japan is pursuing a policy of maintaining extremely low interest rates.

Source: https://www.sggp.org.vn/nhat-ban-chuan-bi-goi-kich-thich-kinh-te-moi-post707081.html