Prime Minister Fumio Kishida instructed the government Friday to come up with an economic stimulus package by the end of October to help mitigate the impact of inflation, as economists warned against over-sized spending.
The order from Kishida came during the morning’s Cabinet meeting, chief spokesperson Hirokazu Matsuno told reporters Friday. The measures will tackle price rises, encourage pay increases, and speed up Kishida’s drive to transform capitalism in Japan, Matsuno said.
The prime minister already extended existing price-relief measures including gas subsidies and caps on imported wheat prices earlier this month as well as adding cash handouts for low-income households and local government grants.