New Japanese Prime Minister prioritizes curbing inflation

Ms. Sanae Takaichi. (Photo: Kyodo/VNA)

Japan's new Prime Minister Sanae Takaichi has ordered a new package of economic measures that prioritizes easing the inflationary burden on households and businesses. Prime Minister Sanae Takaichi announced that a supplementary budget will be created to finance the support program, expected to include subsidies for electricity and gas prices during the winter and local subsidies to curb prices.

The government will also encourage small businesses to raise wages and invest. Tackling the rising cost of living will be the top economic priority for the Japanese government. Tokyo will also focus on strengthening economic security, investing in AI, semiconductors and supply chains, and responding to US tariffs.

It is not yet clear how big the new package of measures will be and whether the Japanese government will issue additional bonds to finance it.

Ms. Takaichi has just been elected as Japan's first female Prime Minister . She is the 66th person to hold this position since the first Prime Minister, Mr. Ito Hirobumi, took office in 1885.

In the vote in the House of Representatives, Ms. Takaichi won 237 votes, exceeding the 233 needed to win. Ms. Takaichi is a 10-term lawmaker, a politician born into a conservative family in Nara Prefecture, Japan.

During the campaign, she took a more moderate approach to broadening her support, toning down her previous far-right positions and describing herself as a “moderate conservative”.

Her close political mentor was the late Prime Minister Shinzo Abe, who appointed her to several key party and government positions during his two terms in office, 2006-2007 and 2012-2020. Ms. Takaichi has inspired a new term in the market – “Sanaenomics”, recalling the “Abenomics” policy of the late Prime Minister Shinzo Abe.

Source: https://vtv.vn/tan-thu-tuong-nhat-ban-uu-tien-kiem-che-lam-phat-100251022144150417.htm