Japan needs fresh spending of about ¥10 trillion ($87 billion) to shore up its fragile economy as Russia’s invasion of Ukraine fuels global uncertainties, an economic adviser to former Prime Minister Shinzo Abe has said.
"It’s better to compile an extra budget as soon as possible,” Etsuro Honda, one of the architects of Abenomics, said in an interview. "The government has to make the outlook for the economy better for businesses using fiscal measures.”
Honda’s call for more stimulus comes barely three months after Prime Minister Fumio Kishida unveiled a bigger-than-expected ¥56 trillion package to support the economy.