Kishida Instructs Compilation of Large Economic Package

Politics

Tokyo, Oct. 8 (Jiji Press)--Japanese Prime Minister Fumio Kishida at a cabinet meeting Friday instructed relevant ministers to draw up a set of economic measures, such as those for alleviating the fallout of the novel coronavirus pandemic.

Steps to support child-rearing families and businesses hit hard by the COVID-19 crisis will likely be the centerpieces of the package. The economic stimulus package is expected to be worth tens of trillions of yen.

Kishida, also president of the ruling Liberal Democratic Party, is planning to include the package in a series of policy pledges for the Oct. 31 election for the House of Representatives, the all-important lower chamber of the Diet, the country's parliament, and formally adopt the stimulus measures after the election.

The Kishida government plans to compile a fiscal 2021 supplementary budget to finance the economy-boosting measures, aiming to have it enacted by year-end.

The prime minister, who took office Monday, told the cabinet meeting that the economic package will have four main themes--preventing the coronavirus from spreading, resuming social and economic activities and thoroughly managing risks while coexisting with the novel coronavirus, devising a growth strategy as the country works hard to end the pandemic and ensuring people's safety and security.

[Copyright The Jiji Press, Ltd.]

Jiji Press