Article Image

IPFS News Link • Government Debt & Financing

Japan To Spend Billions To "Ease Inflationary Pain" Caused By Spending Billions

• https://www.zerohedge.com by Tyler Durden

According to the Nikkei, Japan plans to spend 6.2 trillion yen ($48.2 billion) on - get this - gasoline subsidies, low-interest loans and cash assistance "to alleviate the pain of consumers and small businesses facing rising prices", which were caused by, well, massive government spending.

The government frames the economic package, to be compiled as early as Tuesday, as comprehensive relief measures. But critics - at least those who refuse or fail to see the real monetary elephant in the room - see them as a short-term remedy, especially as other countries tackle more fundamental changes on energy and other key economic factors in response to Russia's invasion of Ukraine.

To pay for the package, the government will request 2.7 trillion yen under a supplementary fiscal 2022 budget to be drafted by the end of the current parliamentary session. It will secure another 1.5 trillion yen from its reserve funds. Together with private-sector contributions, the entire package is expected to total 13.2 trillion yen.


ppmsilvercosmetics.com/ERNEST/