Japanese approach

Japanese Prime Minister Fumio Kishida announced the imminent launch of a new economic policy aimed primarily at supporting the population against the backdrop of continued rising prices. According to the head of the Japanese government, specific measures will be presented by the middle of next month. Kishida emphasized that the new economic policy will be built on five main areas: measures aimed at combating rising prices, sustainable increases in wages and the development of the country’s regions, encouraging domestic investment, measures aimed at combating population decline, and measures designed to ensure economic stability and safety of local residents. “We will return the fruits of our growing economy to the people suffering from rising prices,” the head of the Japanese government emphasized. The Japanese Prime Minister added that the government intends to draw up a supplementary budget as soon as possible, funds from which will be used to implement this new economic policy. He also promised that the government would take incentive measures aimed at supporting the younger generation of workers, as well as measures to combat labor shortages in enterprises, especially in the regions. In early September, the Japanese government already increased subsidies to companies that trade gasoline in the country in order to reduce the price of this type of fuel. Kishida’s new economic policy is also expected to include measures aimed at reducing the cost of domestic gas and electricity for local residents.