Japanese Prime Minister Shigeru Ishiba's Economic Support Package

TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba stated that his government aims to create a supplementary budget exceeding last year's 13.1 trillion yen ($87.6 billion) to fund an economic support package, as reported by the Nikkei business daily on Tuesday.

Ishiba mentioned, "Last year's supplementary budget was 13 trillion yen, and I would like to ask for a larger supplementary budget than that, and have it deliberated and passed by the parliament," during a stump speech as campaigning for the lower house election begins.

Earlier this month, Ishiba formally directed his ministers to formulate the measure designed to alleviate the impact of rising living costs on households. Since assuming office on October 1, Ishiba has emphasized his commitment to reviving the economy from the deflationary challenges faced over the past three decades.

The new support package will include payments to low-income households and subsidies for local governments.

> ($1 = 149.6200 yen)