INTERNEWSTIMES.COM – Japan’s newly appointed Prime Minister Shigeru Ishiba has taken swift action to address the rising cost of living in the country. In his first policy address to parliament, Ishiba unveiled a comprehensive economic relief plan aimed at cushioning the impact of inflation on Japanese households.
The plan, which is expected to be funded by a supplementary budget, includes direct subsidies for low-income families and significant increases in grants for local governments. Ishiba emphasized the need to provide immediate support to those struggling with rising costs, stating, “We need to help people right now, until we see a cycle of growth where wages outpace inflation and encourage investment.”
The announcement comes as Japan navigates a complex economic landscape. While the Bank of Japan has embarked on a path to normalize monetary policy, the country is still grappling with the effects of years of deflationary pressures. The public, unaccustomed to rising prices, is facing the brunt of the economic shift.
Ishiba’s plan also addresses the challenges facing rural Japan, where an aging population and demographic decline are putting pressure on local communities.
The new prime minister’s economic relief package signals his commitment to addressing the concerns of Japanese citizens and his determination to guide the country towards a more sustainable economic future. (Red)
