Economic Relief Measures in Japan

TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba has directed his cabinet to create a new economic package aimed at alleviating the impact of rising living costs on households, according to Chief Cabinet Secretary Yoshimasa Hayashi.

Hayashi mentioned that a supplementary budget will be developed following the lower house elections set for October 27.

Earlier this week, Ishiba emphasized that his administration’s economic initiatives will focus primarily on “pulling Japan out of deflation,” which includes increasing real wages and corporate capital expenditure.

The proposed measures will feature direct payouts to low-income households, as stated by Ishiba.