Japan gov’t economic package to include oil subsidies, cash handouts

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Kyodo News

Japan will raise the upper limit of subsidies for oil wholesalers and provide handouts of 50,000 yen ($390) per child for low-income households as part of an emergency economic package to cushion surging energy and food prices, government sources said Friday. Around 1.5 trillion yen from the government’s reserve fund of 5.5 trillion yen will be allocated to finance the envisaged package, which will also draw from a supplementary budget for fiscal 2022. The plan is set to be finalized next Tuesday. Japan intends to ensure an economic recovery from the COVID-19 pandemic through the relief packag…

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