Japan Govt Presents 39-T.-Yen Economic Package to Ruling Camp

Tokyo, Nov. 22 (Jiji Press)--The Japanese government presented a planned 39-trillion-yen comprehensive economic package to the ruling coalition of the Liberal Democratic Party and Komeito at a meeting Friday morning.

The package, including measures to fight persisting inflation, will be adopted at an extraordinary cabinet meeting in the afternoon, following expected approval by the ruling camp.

The package features a cash benefit of 30,000 yen each to low-income households exempted from residential tax payments and measures to support the development of the semiconductor and artificial intelligence industries.

“The most important issue is increasing the current and future wages and incomes of people of all generations,” Prime Minister Shigeru Ishiba told the meeting, expressing an eagerness to speedily draw up a supplementary budget for fiscal 2024 to fund the package.

The general-account expenditure under the budget is expected to be around 13.9 trillion yen. Including other outlays, such as those under special accounts and the fiscal investment and loan program, total fiscal spending is seen reaching 21.9 trillion yen.

[Copyright The Jiji Press, Ltd.]