Japan May Compile 2-T.-Yen Economic Package

Tokyo, March 30 (Jiji Press)--Japan's ruling Liberal Democratic Party on Wednesday started discussions on an emergency economic package to tackle soaring prices, while an idea of spending some 2 trillion yen has emerged within the government.

The move came after Prime Minister Fumio Kishida instructed cabinet members on Tuesday to compile the emergency package by late April.

The LDP's economic growth strategy headquarters aims to draft the economic package by mid-April.

At the day's meeting of the LDP headquarters, participants broadly agreed to use reserve funds in the government's budget for fiscal 2022, starting Friday, to finance the package without compiling a supplementary budget.

The fiscal 2022 budget includes a total of 5.5 trillion yen as general reserve funds and those for measures to fight the COVID-19 pandemic.

[Copyright The Jiji Press, Ltd.]