Japan prepares new economic stimulus package

SGGP 09/26/2023 07:20

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

The economic 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 percent over the next decade, from 1,004 yen an hour this year to 1,500 yen ($10.29) an hour by 2030-40. The move reflects the government's determination to achieve a consumption-led economic recovery. Japan's overall inflation rate has remained above its 2 percent 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