TOKYO: Japanese Prime Minister KISHIDA Fumio will present an outline of the planned economic package Monday, government sources said.

For the package, which Kishida says will be fully drawn up by the end of next month, the government is seen mulling fiscal and tax measures to help realize structural wage increases and expand investment, as well as a further extension of gasoline subsidies into 2024. The subsidies are currently slated to expire at the end of 2023.

Kishida is set to instruct his cabinet Tuesday to consider concrete measures. The government will compile by year-end a supplementary budget for fiscal 2023 to finance the package.

The package is seen comprising four pillars–dealing with inflation, structurally increasing wages and expanding investment, reforming society to overcome the population decline including by using digital technology, and ensuring the safety and security of citizens.

It is also expected to include measures to promote reskilling to encourage sustained wage increases and aid measures for the semiconductor industry.

JIJI Press