Japan Authorizes USD32B Emergency Spending Package
Prime Minister Sanae Takaichi signed off on the plan after a series of high-level meetings in Tokyo, Mainichi reported. The package provides direct cash transfers to low-income families and extends subsidies for electricity and gas bills through the second quarter of 2026.
The move follows government data released last week showing rice prices soared 27.9% in January, the steepest increase in decades.
Opposition lawmakers swiftly criticized the measure, calling it inadequate and warning that it leans heavily on new debt issuance in an economy already carrying a debt-to-GDP ratio of about 240%.
Finance Ministry officials said 2.2 trillion yen ($14.1 billion) of the package will be directed toward petrol price stabilization, with the goal of keeping fuel costs below a designated ceiling.
The Cabinet is expected to submit a formal request to parliament on Friday to secure budgetary adjustments needed for immediate implementation.
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