Japan prepares economic stimulus package exceeding $110 billion.

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

This package includes spending from the fiscal 2025 supplementary budget, focusing on measures to curb rising prices and implement significant tax cuts, including a reduction in gasoline taxes. According to the Ministry of Finance , the size of the support package will be larger than last year and may increase further.

The government is coordinating with the ruling Liberal Democratic Party (LDP) and the Reform Party to approve the plan as early as November 21, while also pushing for the passage of the supplementary budget during the current parliamentary session.

Minister Satsuki Katayama provided this information after a meeting with Prime Minister Sanae Takaichi at the official residence earlier that morning. Prime Minister Takaichi emphasized that economic policy is a priority, based on a proactive and responsible approach to fiscal expansion.

The support package includes subsidies for electricity and gas for the period from January to March 2026, helping households reduce costs by approximately 2,000 yen per month, along with an investment of about 1 trillion yen in the domestic shipbuilding industry. The policy package also takes into account the impact of raising the annual tax-free income threshold from 1.03 million yen to 1.6 million yen.

Last year, Japan used an additional budget of 13.9 trillion yen for fiscal year 2024 to fund its economic stimulus package. These recent supplemental budgets far exceed the few trillion yen that were 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