Japan prepares economic stimulus package exceeding 110 billion USD

VTV.vn - Japan's Finance Minister said the government is finalizing the determination of the scale of the upcoming economic stimulus package, which is expected to "far exceed" 17,000 billion yen (110 billion USD).

The package includes spending from the 2025 supplementary budget, focusing on measures to curb rising prices and implementing large tax cuts, including a reduction in the gasoline tax. The size of the support package will be larger than last year and may increase further, according to the Ministry of Finance .

The government, in coordination with the ruling Liberal Democratic Party (LDP) and the Duy Tan Party, aims to approve the plan as early as November 21, and push for passage of the supplementary budget during the current Diet session.

Minister Satsuki Katayama made the announcement after a meeting with Prime Minister Sanae Takaichi at the official residence earlier this morning. Prime Minister Takaichi stressed that economic policy is a priority, based on the perspective of proactive and responsible fiscal expansion.

Measures in the package include subsidies for electricity and gas bills for the period from January to March 2026, which will reduce household costs by about 2,000 yen a month, and an investment of about 1 trillion yen in the domestic shipbuilding industry. The package also takes into account the impact of raising the threshold for annual tax-free income from 1.03 million yen to 1.6 million yen.

Last year, Japan used a 13.9 trillion yen supplementary budget for fiscal 2024 to fund its stimulus package. Recent supplementary budgets have far exceeded the several trillion yen level that was common before the COVID-19 pandemic, when the government implemented large-scale economic stimulus measures.

Source: https://vtv.vn/nhat-ban-chuan-bi-goi-kich-thich-kinh-te-vuot-110-ty-usd-100251117130121155.htm