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ECONOMY > Economic Policy

Kishida to order fresh economic measures soon

  • March 23, 2022
  • , Jiji Press , 9:35 p.m.
  • English Press

Tokyo, March 23 (Jiji Press)–Japanese Prime Minister Fumio Kishida said on Wednesday that he will order fresh economic measures as early as next week aimed at cushioning the impact of higher commodity prices.

 

“We have to respond firmly to higher oil and raw materials prices as well as price increases,” Kishida told reporters. “I’ll issue an order as early as next week.”

 

The government is expected to initially draw up near-term measures that will be financed by reserve funds set aside in its newly enacted fiscal 2022 budget.

 

Then in June, the government is expected to assemble a large-scale stimulus package ahead of this summer’s election for the House of Councillors, the upper chamber of the Diet, the country’s parliament.

 

The stimulus package is likely to be worth over 10 trillion yen, sources familiar with the situation said. It is likely to be financed by a supplementary budget to be compiled after the Upper House election, a government source said.

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