{"id":122884,"date":"2021-10-14T08:08:40","date_gmt":"2021-10-14T08:08:40","guid":{"rendered":"https:\/\/fin2me.com\/?p=122884"},"modified":"2021-10-14T08:08:40","modified_gmt":"2021-10-14T08:08:40","slug":"japan-ruling-party-executive-calls-for-290-billion-stimulus-package","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/japan-ruling-party-executive-calls-for-290-billion-stimulus-package\/","title":{"rendered":"Japan ruling party executive calls for $290 billion stimulus package"},"content":{"rendered":"<ul>\n<li>Japan\u00a0must compile an economic stimulus package worth at least 32-33 trillion yen ($282-$290 billion) to cushion the impact of the pandemic, a senior ruling party official said.<\/li>\n<li>Such large-scale spending would be needed to fill\u00a0Japan&#x27;s output gap and achieve the central bank&#x27;s 2% inflation target, said Kozo Yamamoto, a former finance ministry official.<\/li>\n<\/ul>\n<p>Japan\u00a0must compile an economic stimulus package worth at least 32-33 trillion yen ($282-$290 billion) to cushion the impact of the coronavirus pandemic, a senior ruling party official close to Prime Minister Fumio Kishida said on Thursday.<\/p>\n<p>Such large-scale spending would be needed to fill\u00a0Japan&#x27;s output gap and achieve the central bank&#x27;s 2% inflation target, said Kozo Yamamoto, an architect of former premier Shinzo Abe&#x27;s &quot;Abenomics&quot; stimulus policies.<\/p>\n<p>&quot;The package can be funded by issuing\u00a0Japanese government bonds (JGB),&quot; said Yamamoto, now Kishida&#x27;s associate on economic policy. &quot;The government should issue massive amount of long-term JGBs, which can be purchased aggressively by the central bank.&quot;<\/p>\n<p>A former finance ministry official, Yamamoto has been deeply involved in the creation of Abenomics, a mix of massive monetary and fiscal stimulus and a growth strategy deployed in 2013 to pull\u00a0Japan\u00a0out of economic stagnation.<\/p>\n<p>Kishida has said he will sustain the stimulus policies of Abenomics, and take additional measures to distribute the wealth more broadly to households.<\/p>\n<p>&quot;What&#x27;s important first and foremost is to achieve strong economic growth with the three arrows of Abenomics. Only then can we talk about redistribution,&quot; said Yamamoto, who added that he exchanges emails frequently with Kishida.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/10\/14\/japan-ruling-party-executive-calls-for-290-billion-stimulus-package.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japan\u00a0must compile an economic stimulus package worth at least 32-33 trillion yen ($282-$290 billion) to cushion the impact of the pandemic, a senior ruling party [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":122883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Japan ruling party executive calls for $290 billion stimulus package - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/japan-ruling-party-executive-calls-for-290-billion-stimulus-package\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan ruling party executive calls for $290 billion stimulus package - 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