Japan confirms stimulus package will exceed ¥17 trillion ($110 billion), rejecting earlier media reports

Japan’s Finance Minister Satsuki Katayama said on Sunday that the new stimulus package will go beyond ¥17 trillion, meaning way more than $110 billion, not less. She made this statement after meeting with Prime Minister Sanae Takaichi, according to Nikkei, and it clears up confusion over rumors that earlier claimed the government would cap spending at the $110 billion level. Takaichi, who took office last month, has been pushing for an aggressive response to fight rising living costs and invest heavily in new technologies, especially artificial intelligence and semiconductors. The cabinet is scheduled to officially sign off on the full package on November 21. Katayama’s comments now set the tone: it’s going to be a big one. Labor shortage losses hit hard Japan is struggling with a labor crisis that’s bleeding money from the economy. A study by Nikkei and the Japan Research Institute estimates that businesses are missing out...

https://www.cryptopolitan.com/japan-stimulus-plan-will-top-110-billion/