Economy

Stocksak: Japan Cabinet approves spending package to ease inflation pain


© Stocksak. FILE PHOTO – Banknotes made of Japanese yen can be seen in this illustration taken September 22, 2022. REUTERS/Florence Lo/Illustration/File photo

TOKYO (Stocksak), Japan’s government unveiled Friday a new stimulus package that includes spending of 39.0 trillion Japanese yen ($265 Billion) and which it claimed would increase gross domestic product (GDP), by approximately 4.6%.

The government stated that it would prepare an additional budget for the current fiscal year of 29.6 trillion yen to finance the package.

The government released a document outlining the package and expressed hope that the Bank of Japan would consider the effects financial market moves might have on the economy.

($1 = 147.0900 yen)

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