As reported by the Kyodo, Japan on Tuesday compiled a 6.2 trillion yen emergency economic package to mitigate the impact on households and smaller firms of rising prices, partly blamed on Russia's invasion of Ukraine.
The key features of the package include cash handouts of 50,000 yen per child for low-income households, more subsidies for oil wholesalers to bring down retail gasoline prices and support for struggling small and medium-sized companies, as well as livestock farmers.
The relief measures, compiled before a House of Councillors election in July, come as rising fuel costs and food prices threaten to hurt consumer sentiment, with the economy yet to fully recover from the COVID-19 pandemic fallout.
The size of the economic package will be 13.2 trillion yen when the use of private-sector funds is added.
