TOKYO -- Japanese Prime Minister Fumio Kishida's ambitious stimulus package seeks to revamp the economy by bolstering the labor force and spurring domestic investment. But as past measures have failed to address entrenched structural issues, it remains uncertain whether massive spending can help boost the nation's growth rate this time.
The package contains stimulus measures totaling 37.4 trillion yen ($249 billion), exceeding previous spending programs compiled in pre-pandemic times. The goal is to raise the nation's potential growth rate to 1%, on par with the U.S. and Europe.
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