The Business Times
business-time-50
Global Enterprise logo
BROUGHT TO YOU BYUOB logo

Japan to spend over 17 trillion yen for steps to combat inflation pain: draft

google-preferred-sourceAdd BT as a preferred source
Published Wed, Nov 1, 2023 · 11:24 AM
    • Japan is planning to spend over 17 trillion yen (S$153.4 billion) in a package of measures to cushion the economic blow from rising inflation.
    • Japan is planning to spend over 17 trillion yen (S$153.4 billion) in a package of measures to cushion the economic blow from rising inflation. PHOTO: BLOOMBERG

    JAPAN’S government is considering spending over 17 trillion yen (S$153.4 billion) in a package of measures to cushion the economic blow from rising inflation, a draft of the package obtained by Reuters showed on Wednesday.

    To fund part of the spending, the government will compile a supplementary budget for the current fiscal year sized around 13.1 trillion yen, according to the draft.

    The daily Asahi Shimbun reported earlier on Wednesday the package of measures will likely be sized around 17 trillion yen.

    Prime Minister Fumio Kishida said last week his government hoped to compile the package on Nov 2, with measures including temporary cuts to income and residential taxes as well as subsidies to curb petrol and utility bills. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    SJ Heng, senior director of commerce at Heineken Asia-Pacific, says that a beer's brand is "not determined by the postal code of the brewery".

    Tiger Beer lines up new products as Singapore operations’ role shifts from brewing to innovation

    Granite Asia senior managing partner Jenny Lee (left) and BT wealth editor Genevieve Cua at the inaugural Business Conclave.

    Single founders, billion-dollar valuations: AI is minting unicorn startups at birth

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More