Economic news
Japan cabinet approves spending package to ease inflation pain
2022.10.28 05:04
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© Reuters. FILE PHOTO: Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. REUTERS/Florence Lo/Illustration/File Photo
TOKYO (Reuters) – Japan’s government on Friday unveiled a new stimulus package with spending worth 39.0 trillion yen ($265 billion) that it said would boost gross domestic product (GDP) by around 4.6%.
The government said it would compile an extra budget in the current fiscal year worth 29.6 trillion yen to fund the package.
In a document detailing the package, the government also expressed hope the Bank of Japan would pay attention to the impact financial market moves could have on the economy.
($1 = 147.0900 yen)
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