Japan is about to unveil a 67.1 trillion yen economic stimulus package, easing the pressure on consumers and businesses to face inflation.

(Bloomberg)

[Financial Channel/Comprehensive Report] Japan is about to announce an economic stimulus plan of 67.1 trillion yen (NT$13.3 trillion), of which 25.1 trillion (NT$5.4 trillion) is from the national fund.

The total size of the package, which will include spending by local governments and the private sector, is expected to ease inflationary pains for consumers and businesses and bolster support for Prime Minister Fumio Kishida's year-long government, Kyodo news agency reported.

Kishida said the plan will be announced at the end of this month.

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In addition to tackling inflation, the plan aims to give businesses more incentives to raise wages, use the weaker yen to boost inbound tourism and exports, and get factories back into production, according to documents seen by Bloomberg. Promote Kishida's new vision for capitalism.

The yen's historic decline is fueling inflationary pressures on food and energy imports, and the government has intervened in currency markets to support the yen, saying excessive currency volatility cannot be tolerated.

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