Prime Minister Fumio Kishida instructed ministers on Tuesday to begin work on developing a new stimulus package by late April to soften the blow from rising energy, commodity and grain prices to households following Russia's invasion of Ukraine.
The package is also aimed at helping Japan's economy recover from the COVID-19 pandemic and will focus on four areas — higher crude oil prices, stable food supplies, funding support for small and midsized companies and assistance to people in need — according to Kishida, who delivered his directive at a Cabinet meeting.
Surging energy and grain prices have cast a shadow over the Japanese economy, which saw quasi-emergency antivirus curbs removed completely in the country only last week.