Japan gov't OKs 135 bln USD economic stimulus package
Baku, November 21, AZERTAC
The Japanese government on Friday approved an economic stimulus package worth 21.3 trillion yen (about 135 billion U.S. dollars) to support the country's economy amid persistent inflation and U.S. tariffs, according to Xinhua.
Under the plan, the government will allocate 11.7 trillion yen, including tax breaks, for measures to mitigate the impact of persistent inflation, while 7.2 trillion yen will be directed toward investments in areas such as semiconductors, artificial intelligence, and shipbuilding.
To finance a series of measures in the package, the government plans to craft a supplementary budget of 17.7 trillion yen from its general account, exceeding the fiscal 2024 supplementary budget worth around 13.9 trillion yen to hit a new post-pandemic high. (1 U.S. dollar equals about 157.3 yen).
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