Japan passes $250B economic package meant to lift wages and spur growth
4 months ago

Japan passes $250B economic package meant to lift wages and spur growth

Associated Press  

TOKYO — Japan approved a 39 trillion yen economic stimulus package Friday centered around initiatives it said were aimed at boosting individual incomes. It provides support for digital innovation in the world’s fourth largest economy, subsidies to defray for rising energy costs and help for low-income households. “During the past 30 years, our nation has overcome various challenges, including deflation and confusion that followed the burst of the ‘bubble economy,’ the global financial crisis, various natural disasters and the difficulties stemming from the coronavirus pandemic,” documents provided by the Ministry of Economy, Trade and Industry said. The government says signs of growth are evident, but Japan must avoid a negative spiraling of lower prices similar to an earlier protracted bout of deflation and attain sustainable wage increases to support growth.

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History of this topic

Japan's record budget boosts social welfare, defence amid aging population
3 months ago

Japan's record budget boosts social welfare, defence amid aging population

Hindustan Times  

Japan's government on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare, as the population ages, and defence to tackle regional threats. As the population ages, Japan's government adopted a record budget on Friday for the upcoming fiscal year, increasing expenditure on military to combat regional threats and social welfare. The defence ministry …

Japan’s latest stimulus package takes new focus: Boosting tax-free income
4 months ago

Japan’s latest stimulus package takes new focus: Boosting tax-free income

Live Mint  

TOKYO-Japan’s new, minority government has just launched a now nearly annual attempt at stimulating its economy—this time toying with the controversial idea of keeping more of consumers’ income tax-free. Japan’s annual income-tax threshold, the level above which the government can start taking tax, is 1.03 million yen, equivalent to $6,727. An increase in the threshold to 1.78 million yen would …

Japan approves $141 billion stimulus to boost economy, offset living costs
4 months ago

Japan approves $141 billion stimulus to boost economy, offset living costs

Live Mint  

TOKYO—Japan’s cabinet on Friday approved an economic stimulus package worth more than $140 billion, in Prime Minister Shigeru Ishiba’s latest push to tackle inflation and boost growth after his coalition suffered a bruising electoral defeat last month. The package totalling 21.9 trillion yen, equivalent to $141.71 billion, is aimed at easing rising living costs and promoting business innovation and investment. …

Japan Cabinet OKs record military budget to speed up strike capability, eases lethal arms export ban
1 year, 3 months ago

Japan Cabinet OKs record military budget to speed up strike capability, eases lethal arms export ban

Associated Press  

TOKYO — Japan’s Cabinet on Friday approved a hefty 16% increase in military spending next year and eased its postwar ban on lethal weapons exports, underscoring a shift away from the country’s self-defense-only principle. The easing would help strengthen Japan’s feeble defense industry and broaden the country’s new official military aid designed for like-minded nations in the Indo-Pacific region in …

Japan’s prime minister announces $113 billion in stimulus spending
1 year, 4 months ago

Japan’s prime minister announces $113 billion in stimulus spending

Associated Press  

TOKYO — Japanese Prime Minister Fumio Kishida announced Thursday a stimulus package of more than 17 trillion yen that includes tax breaks and benefits for low-income households, a plan criticized by some observers as populist spending that would worsen Japan’s national debt. Takahide Kiuchi, executive economist at the Nomura Research Institute, said the package’s effect on the economy will be …

Japan unveils record 114.4 trillion-yen budget in fresh boost to military capacity
2 years, 3 months ago

Japan unveils record 114.4 trillion-yen budget in fresh boost to military capacity

Firstpost  

Endorsed by Prime Minister Fumio Kishida’s cabinet on Friday, the highlights of the budget include record expenditure earmarked for defence and welfare spending for a country that has an ageing population. Tokyo: Japan on Friday announced a budget of 114.4 trillion yen for the next fiscal year beginning April, marking increased military spending and higher social security costs for its …

Japan’s Kishida advances $940bn budget aimed at pandemic recovery
3 years, 3 months ago

Japan’s Kishida advances $940bn budget aimed at pandemic recovery

Al Jazeera  

Th record spend comes despite public debt that is more than twice the size of the country’s $5 trillion economy. The 107.6 trillion yen budget for the fiscal year 2022-2023, which starts in April, is Japan’s biggest-ever initial spending plan, underlining its priority on reviving the pandemic-hit economy over restoring long-term fiscal health. The first annual budget under Kishida comes …

Japan Cabinet OKs record stimulus package to fix economy
3 years, 4 months ago

Japan Cabinet OKs record stimulus package to fix economy

Associated Press  

TOKYO — Japan’s Cabinet approved on Friday a record 56 trillion yen stimulus package, including cash handouts and aid to ailing businesses, to help the economy out of the doldrums worsened by the coronavirus pandemic. “The package has more than enough content and scale to deliver a sense of security and hope to the people,” Prime Minister Fumio Kishida told …

Japan PM Kishida unveils $490bn stimulus package
3 years, 4 months ago

Japan PM Kishida unveils $490bn stimulus package

Al Jazeera  

Japanese leader announces record spending as economy struggles to bounce back from the pandemic. Japan’s Prime Minister Fumio Kishida has unveiled a record-breaking stimulus package worth approximately 56 trillion Japanese yen. “Though Kishida has been known in the past for being somewhat hawkish, he appears set to continue the Abenomics paradigm for several more years.” The size of spending was …

Japan to give minors $882 in cash, vouchers to boost economy
3 years, 4 months ago

Japan to give minors $882 in cash, vouchers to boost economy

Al Jazeera  

Japan’s ruling party and its coalition partner have agreed to offer a combined 100,000 Japanese yen worth of vouchers and cash payouts to children aged 18 or younger as part of the government’s stimulus package, Jiji news agency said. In a meeting of executives, the Liberal Democratic Party and coalition partner Komeito also agreed to offer 100,000 yen in cash …

Japan approves $700 billion stimulus package
4 years, 3 months ago

Japan approves $700 billion stimulus package

Live Mint  

Japan's government on Tuesday approved more than $700 billion in fresh stimulus to fund projects from anti-coronavirus measures to green tech, the country's third such package this financial year. Japan's latest package, worth 73.6 trillion yen, includes loan schemes and actual government spending of around 40 trillion yen. Japan officially exited recession last month after three quarters of contraction, and …

Japan announces $708bn in fresh stimulus as COVID-19 cases rise
4 years, 3 months ago

Japan announces $708bn in fresh stimulus as COVID-19 cases rise

Al Jazeera  

Japan announces a fresh stimulus package worth $708bn even as new COVID-19 cases cast a shadow on better GDP data. Japan will compile a fresh economic stimulus package worth 73.6 trillion yen, Prime Minister Yoshihide Suga said on Tuesday, signalling his resolve to pull the country out of its coronavirus crisis-induced slump. The new stimulus package will include fiscal spending …

Japan’s Abe unveils massive $1 trillion coronavirus aid package
4 years, 11 months ago

Japan’s Abe unveils massive $1 trillion coronavirus aid package

Al Jazeera  

Japanese Prime Minister Shinzo Abe on Tuesday declared a state of emergency to fight coronavirus infections in major population centres and rolled out a nearly one-trillion-dollar stimulus package to soften the economic blow. Abe said that by reducing contact between people by 70 percent to 80 percent, the government hoped infections would peak in two weeks. That is equal to …

Japan set to announce record economic stimulus package
4 years, 11 months ago

Japan set to announce record economic stimulus package

Al Jazeera  

Prime Minister Shinzo Abe due to roll out nearly $1 trillion in spending and impose virus emergency. Japan’s government is planning on Tuesday to finalise a significant stimulus package worth 108 trillion yen – equal to 20 percent of Japan’s economic output – to cushion the heavy effect of the coronavirus pandemic on the world’s third-largest economy. Prime Minister Shinzo …

Japan economy: Shinzo Abe has $1 trillion coronavirus relief plan
4 years, 11 months ago

Japan economy: Shinzo Abe has $1 trillion coronavirus relief plan

CNN  

Hong Kong CNN Business — Japan is committing nearly $1 trillionto try to protect its economy from the fallout from the coronavirus pandemic. Japanese Prime Minister Shinzo Abe on Monday announced a 108 trillion yen relief package — a staggering amount equivalent to about 20% of the annual output of the world’s third biggest economy. Recent unemployment, industrial production and …

Japan’s Abe to launch panel to mull big stimulus package: Report
5 years ago

Japan’s Abe to launch panel to mull big stimulus package: Report

Al Jazeera  

Japan’s economy comes under pressure as exports and imports fall due to coronavirus pandemic. Japanese Prime Minister Shinzo Abe will form a panel of key ministers and the central bank governor on Thursday to lay out a package to help the economy weather the hit from the coronavirus outbreak, a government official with direct knowledge of the matter has said. …

Japan’s economy to get $119bn stimulus: PM Abe
5 years, 3 months ago

Japan’s economy to get $119bn stimulus: PM Abe

Al Jazeera  

The country has struggled with slowing growth due to a slump in exports, a recent sales tax hike and natural disasters. Japan‘s Prime Minister Shinzo Abe said on Thursday that his government would compile an economic stimulus package worth about 13 trillion yen in fiscal spending, including an extra budget from this fiscal year and spending earmarked for the 2020 …

Ready to roll: Japan’s finance minister prepared to boost economy
5 years, 5 months ago

Ready to roll: Japan’s finance minister prepared to boost economy

Al Jazeera  

The Japanese government is prepared to unleash fiscal and monetary stimulus although it sees no need to act immediately. Japan’s Finance Minister Taro Aso says he is ready to give the world’s third-largest economy a boost, as it struggles with the effects of the trade war between the United States and China. While global risks are nowhere near those seen …

Japan’s Shinzo Abe plans up to $90.7 billion stimulus: report
8 years, 9 months ago

Japan’s Shinzo Abe plans up to $90.7 billion stimulus: report

Live Mint  

Tokyo: Japan Prime Minister Shinzo Abe plans to propose a fiscal stimulus package of as much as 10 trillion yen after warning Group of Seven leaders that the global economy faces significant risk of another crisis, according to the Nikkei newspaper. Abe will seek a second supplementary budget worth 5 trillion yen to 10 trillion yen after July’s upper-house election, …

Shinzo Abe plans new Japan stimulus, budget front-loading: report
9 years ago

Shinzo Abe plans new Japan stimulus, budget front-loading: report

Live Mint  

Tokyo: Japanese Prime Minister Shinzo Abe plans to announce a package of new spending measures on Tuesday to boost the economy, the Nikkei newspaper reported, without saying where it obtained the information. Abe will probably give details of the measures at a press conference the same day that Japan’s 96.7 trillion yen budget for fiscal 2016 is expected to become …

Japan proposes record budget to help economy hit by recession
10 years, 2 months ago

Japan proposes record budget to help economy hit by recession

Live Mint  

Japan plans a record budget for next fiscal year to support an economy that fell into recession after Prime Minister Shinzo Abe’s government increased the sales tax. “The budget will continue to grow each year as it gets increasingly difficult to curb social welfare spending due to Japan’s aging population,” said Kyohei Morita, chief Japan economist at Barclays Plc. “Given …

Japan weighs up to ¥3 trillion extra budget to boost economy
10 years, 3 months ago

Japan weighs up to ¥3 trillion extra budget to boost economy

Live Mint  

Tokyo: Japan’s government is considering an extra budget worth as much as ¥3 trillion to help the economy recover from recession, according to people involved in the discussions. Burdened by the world’s heaviest debt load, Prime Minister Shinzo Abe has little room to borrow and spend to jump start an economy that suffered its fourth recession since 2008 following April’s …

Bank of Japan refrains from boosting stimulus as recovery seen
10 years, 11 months ago

Bank of Japan refrains from boosting stimulus as recovery seen

Live Mint  

Tokyo: The Bank of Japan refrained from adding extra stimulus as policymakers said the world’s third-biggest economy can maintain a recovery even with last week’s increase in the sales tax. Governor Haruhiko Kuroda and his board kept a pledge to expand the monetary base at a pace of ¥60 trillion to ¥70 trillion per year, the central bank said in …

Japan disasters to cost up to $300 billion: Report
14 years ago

Japan disasters to cost up to $300 billion: Report

The Hindu  

The government expects the economic toll from Japan’s earthquake and tsunami could exceed $300 billion, considerably higher than other estimates, a report said on Wednesday. Economy Minister Kaoru Yosano will present the estimate of 15 trillion yen to 25 trillion yen at a Cabinet meeting on Wednesday, the newspaper Nihon Keizai Shimbun said. The March 11 magnitude-9.0 quake and tsunami …

Japan unveils record $1 trillion budget
15 years, 3 months ago

Japan unveils record $1 trillion budget

The Hindu  

December 25, 2009 11:08 pm | Updated December 16, 2016 03:00 pm IST - TOKYO Japan on Friday unveiled a record 92.29 trillion yen budget for the next fiscal year, reflecting the Prime Minister’s campaign pledge to boost spending for child support and slash wasteful outlay for public works. The budget for the year starting in April 2010 came as …

Japanese Retailer Bucks a Trend by Selling Cheap
25 years, 2 months ago

Japanese Retailer Bucks a Trend by Selling Cheap

LA Times  

TIMES STAFF WRITER Politicians are pumping $171 billion into yet another gargantuan stimulus package aimed at jump-starting the anemic Japanese economy. Brightly colored plastic bins, enough gadgets and tableware to stock a kitchen almost completely, tools, alarm clocks, neckties, office supplies, along with battery-operated massagers you never knew you needed, create a “video arcade for housewives”--a description coined by the …

Coping with a slump
26 years, 10 months ago

Coping with a slump

The Hindu  

The Japanese economy is in big trouble. According to the Government, there is an equivalent of 12,000 billion yen in extra spending in that package which should raise growth by 2 percentage points over the next 12 months. The package includes temporary tax cuts totalling 2,000 billion yen this year and a further 2,000 billion yen next year; public works …

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