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Economy

Japan's economic stimulus to balloon to over $350bn

Election pledges such as cash handouts boost package, raise questions on spending

The government plans to compile a stimulus package worth 40 trillion yen. Support measures for people's livelihoods and businesses have bolstered the scale of the package.   © Reuters

TOKYO -- The Japanese government's economic stimulus package, which is to be compiled on Nov. 19, is expected to swell to more than 40 trillion yen ($350 billion) in fiscal spending, reaching a nearly record level comparable to the one extended last April at the start of the COVID-19 pandemic, Nikkei has learned.

Support measures included in the ruling parties' campaign pledges in the recent lower house election, such as 100,000 yen in benefits for people aged 18 or younger, boosted the overall scale.

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