Japan PM to increase budget to aid households

Japanese Prime Minister plans to increase the budget to help struggling households cope with inflation before the upcoming general election. The proposed extra budget could exceed 13 trillion yen (about $87 billion), according to local media reports.

The government’s new economic package aims to help households cope with rising prices as inflation outpaces wage growth.

The prime minister emphasises the importance of boosting private consumption, which accounts for over half of the economy. Plans include cash handouts to low-income households and increased financial aid to regional areas.

Attribution: Xinhua

Subediting: M. S. Salama