Japan Govt. Unveils Massive Economic Package
Japan's government has decided on an economic package, designed to tame the impact of rising consumer prices and the weaker yen.
The Cabinet approved the package on Friday. It features local and central government spending worth a total of around 39 trillion yen, or about 270 billion dollars.
Prime Minister Kishida Fumio told reporters that the measures will lift the nation's gross domestic product by 4.6 percent.
He also said that subsidies to curb rising energy costs will lower consumer prices by at least 1.2 percentage points through next year.