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approves US$135bil stimulus
Japanese cabinet approves US$135bil stimulus
1 hour agoAFP
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The stimulus measures from Japan's fifth premier includes energy subsidies and tax cuts, and has stirred fears it could further swell Japan’s already massive debt.
Japanese Prime Minister Sanae Takaichi has vowed to tackle inflation after rising prices brought down her predecessor. (EPA Images pic)
TOKYO: Japanese Prime Minister Sanae Takaichi’s cabinet approved a major stimulus package on Friday, aiming to ease the pain of inflation on households and firms, media reports said.
The bundle of measures from Japan’s fifth premier in as many years was worth 21.3 trillion yen (US$135 billion) including energy subsidies and tax cuts, the reports said.
Takaichi came to power last month with a pledge to fight inflation as anger over rising prices helped undo her predecessor, Shigeru Ishiba, who was in office barely a year.