Japan prepares new economic stimulus package

SGGP September 26, 2023 07:20

According to Japan Times, on September 25, Japanese Prime Minister Fumio Kishida announced the policy pillars of a new economic stimulus package to promote wage increases and help households cope with rising prices.

The stimulus package is expected to include measures to control inflation and boost wage growth. Mr. Kishida also said he would closely monitor currency markets, warning against investors trying to sell off the yen.

Late last month, Prime Minister Kishida set a target of raising the national average minimum wage by nearly 50% over the next decade, from 1,004 yen an hour this year to 1,500 yen an hour ($10.29) between 2030 and 2040. The move reflects the government's determination to achieve a consumption-led economic recovery. Japan's overall inflation rate has remained above its 2% target for 17 months through August. The Bank of Japan is pursuing a policy of maintaining ultra-low interest rates.

Source: https://www.sggp.org.vn/nhat-ban-chuan-bi-goi-kich-thich-kinh-te-moi-post707081.html