Japan already has one of the world's biggest ratios of national debt to output. The 22-trillion-yen stimulus bundle includes energy and fuel subsidies as well as cash handouts for low-income households in the world's fourth-biggest economy, according to the media. The package comes a year after Ishiba's predecessor Fumio Kishida, who resigned earlier this year, announced a stimulus package worth 17 trillion yen ($113 billion at the time). Government data showed Friday that inflation in Japan slowed slightly in October, with prices excluding volatile fresh food rising 2.3 percent year-on-year. The new stimulus package may include plans for the government to buy a 200-billion-yen stake in next-generation chip venture Rapidus, according to media reports.

Source: Daily Nation November 22, 2024 13:40 UTC