Japan’s government is weighing an economic stimulus package worth about 17 trillion yen (USD 110 billion), according to a report by Reuters on Saturday. The measure would be the first major package under newly appointed Prime Minister Sanae Takaichi, highlighting her administration’s focus on expansionary fiscal policy.
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Reuters reported that the supplementary budget required to fund the package will likely amount to around 14 trillion yen, a move that could further increase Japan’s already large public debt.
Since taking office in October, Takaichi has pledged a substantial spending plan to ease the impact of rising living costs and to bolster investment in growth sectors such as artificial intelligence and semiconductors.
She noted that the final size of the package, currently being drafted by the Ministry of Finance, may change depending on upcoming negotiations among the ruling coalition parties.
According to the report, the package will likely include larger income tax exemptions, gasoline tax reductions, subsidies for utility bills, and funds allocated to local governments to support spending on food assistance programs.
The administration is expected to finalize the package and seek Cabinet approval by November 21.
