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Economy

Japan PM Kishida seeks to ease inflation pain with $48bn package

Budget prioritizes oil distributors, small businesses and households in need

Japanese Prime Minister Fumio Kishida on Tuesday announced an increase in the government's maximum subsidy to oil distributors in a bid to limit gasoline price increases. (Source photo by Kai Fujii and pool)

TOKYO -- Japanese Prime Minister Fumio Kishida on Tuesday announced a 6.2 trillion yen ($48.2 billion) package to alleviate pain for consumers as prices rise for electricity, food and other goods and necessities.

The package includes additional gasoline subsidies, financial support for small and medium-size businesses struggling to recover from the pandemic, and financial aid for low-income households.

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