Japan Unveils Massive 21.9 Trillion Yen Stimulus Package

Japan plans a fiscal stimulus package worth 21.9 trillion yen to combat rising prices, as reported by NHK. Including private sector funding, the total package is 39 trillion yen. The ruling coalition reached an agreement with the opposition, clearing major hurdles for approval.


Devdiscourse News Desk | Updated: 21-11-2024 07:01 IST | Created: 21-11-2024 07:01 IST
Japan Unveils Massive 21.9 Trillion Yen Stimulus Package

The Japanese government is on the brink of approving a colossal 21.9 trillion yen stimulus package, public broadcaster NHK revealed on Thursday. The proposed fiscal intervention aims to address the economic challenges posed by rising inflation.

The comprehensive plan, which incorporates significant contributions from the private sector, will see a total spend of 39 trillion yen, with 13.9 trillion yen coming directly from the government's general account. Notification of such details came from NHK, although sources were not cited.

Progress over the package faced obstacles until Japan's ruling coalition successfully negotiated terms with a key opposition party. This breakthrough has enabled the advancement of the package aimed at alleviating the financial strain on households due to escalating prices.

(With inputs from agencies.)

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