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Japan Set to Roll Out USD129B Relief Plan to Ease Rising Living Costs
(MENAFN) Japan's administration is set to roll out a massive stimulus initiative exceeding 20 trillion yen ($129 billion) designed to shield households from surging inflation pressures.
Cabinet officials are poised to approve the relief program—which features fuel tax reductions—this Friday, according to media reporting Wednesday.
The supplementary spending plan is projected to hit 17 trillion yen ($109.2 billion), representing a substantial jump from the previous year's 13.9 trillion yen ($89.3 billion) allocation.
Japan's economic output contracted in the third quarter—marking the nation's first downturn across six consecutive quarters—as elevated price levels throttled household consumption.
Among the relief provisions, authorities will deliver utility subsidies covering power and natural gas expenses throughout January, February, and March of the coming year.
Regional administrations will receive dedicated funding streams to deploy customized interventions, including rice distribution vouchers, addressing the cost-of-living squeeze affecting residents nationwide.
Cabinet officials are poised to approve the relief program—which features fuel tax reductions—this Friday, according to media reporting Wednesday.
The supplementary spending plan is projected to hit 17 trillion yen ($109.2 billion), representing a substantial jump from the previous year's 13.9 trillion yen ($89.3 billion) allocation.
Japan's economic output contracted in the third quarter—marking the nation's first downturn across six consecutive quarters—as elevated price levels throttled household consumption.
Among the relief provisions, authorities will deliver utility subsidies covering power and natural gas expenses throughout January, February, and March of the coming year.
Regional administrations will receive dedicated funding streams to deploy customized interventions, including rice distribution vouchers, addressing the cost-of-living squeeze affecting residents nationwide.
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