October 4, 2024

Japanese Prime Minister Shigeru Ishiba said he has asked ministers to formulate an economic relief package to ease the bite of inflation.

"We would need to support people suffering from rising costs right now until a positive growth cycle with wage increases outpacing inflation and driving capital expenditures is established," Ishiba said Friday in his first policy speech to parliament as the country's prime minister, according to a translation by Reuters.

Local media reported earlier that Ishiba also plans to compile a supplementary budget, which will fund the relief package after the lower house elections set for Oct. 27.

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https://www.cnbc.com/2024/10/04/shigeru-ishiba-asks-ministers-to-craft-economic-package-to-cushion-inflation-impact.html