Japan Unveils $140B Stimulus Package to Boost Consumer Spending

The Japanese government approved a $140-billion stimulus package on Friday, aiming to boost consumer spending, according to officials.

The package, valued at 21.9 trillion yen (approximately $141.8 billion), includes various measures such as cash handouts of about 30,000 yen for low-income households. Additionally, it offers subsidies for fuel and energy costs and provides financial support to small businesses, according to official statements.

Japan’s Finance Minister Kato stated that the government aims to restore fiscal health while pursuing an economic turnaround. However, when asked about fiscal discipline, he mentioned that it is not currently possible to provide an outlook on achieving the government’s primary balance target for fiscal 2025.