Japan’s cabinet announces $135 billion stimulus package: NHK
Japanese Prime Minister Sanae Takaichi (C) answers a question during a session of the Budget Committee of the House of Councilors at the National Diet in Tokyo on November 12, 2025. (Photo: Kazuhiro NOGI / AFP) (Photo: KAZUHIRO NOGI/AFP via Getty Images)
Kazuhiro Nogi | Afp | Getty Images
It was reported that the Japanese cabinet announced an incentive package totaling 21.3 trillion yen ($135.5 billion) on Friday.
Public broadcaster NHK According to Google’s translation, the package is based on three pillars: addressing rising prices, achieving a strong economy, and strengthening defense and diplomatic capabilities.
The cabinet also said it would expand local government grants as well as provide subsidies for electricity and gas bills. The subsidies will begin next January and amount to about 7,000 yen for a standard household over a three-month period starting next January.
According to the report, taxes on gasoline will also be abolished.
Japan also plans to establish a 10-year fund to improve shipbuilding capabilities and enact measures that will increase defense spending to 2% of gross domestic product by fiscal 2027.
This is breaking news, please check back for updates.
