Japan’s cabinet has taken a bold step by approving a 21.3 trillion yen stimulus package, translating to 135.4 billion USD, representing the largest fiscal initiative since the new government was formed.
This comprehensive package allocates 17.7 trillion yen for general spending, surpassing last year’s 13.9 trillion yen, and includes 2.7 trillion yen in tax reductions as part of its fiscal strategy.
Concerns loom over Japan’s fiscal situation as the yen fell to a 10-month low and government bond yields hit record highs. The new bond issuance is expected to exceed 6.69 trillion yen, with plans to finalize budget approval by November 28.
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