TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba announced plans for a supplementary budget exceeding last year’s 13.1 trillion yen ($87.6 billion) to support the economy, according to the Nikkei.
“I want to propose a bigger supplementary budget than last year’s and have it discussed in parliament,” Ishiba said during a campaign speech.
Earlier this month, Ishiba instructed his ministers to prepare measures to help households deal with rising living costs. Since taking office on October 1, he has emphasized the need to overcome decades of deflation affecting economic growth.
The new package will provide payments to low-income families and subsidies for local governments.
($1 = 149.6200 yen)
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