Japan has announced a major stimulus package to reduce inflation in the country – and save the government, whose polls recently hit record lows.
The package is worth more than 17 trillion yen (about 102 billion francs), Prime Minister Fumio Kishida said on Thursday. “For the first time in thirty years, we are faced with a great opportunity to reach a new economic level,” Kishida said at a meeting.
The vicious circle of low prices, low wages and low growth can be broken, the report says. People’s incomes must also be supported, for example through tax cuts and assistance to low-income households.
Since Russia invaded Ukraine last year, the world’s third-largest economy has also suffered from rising energy costs, putting enormous pressure on the government. (sda/afp)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
