Japan ruling party executive calls for 32-33 trillion yen stimulus

by Reuters
Thursday, 14 October 2021 02:57 GMT

TOKYO, Oct 14 (Reuters) - Japan must 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.

"The package can be funded by issuing Japanese government bonds (JGB)," Kozo Yamamoto, an architect of former premier Shinzo Abe's "Abenomics" stimulus policies, told Reuters.

"The government should issue massive amount of JGBs, which can be purchased aggressively by the central bank," said Yamamoto, now Kishida's associate on economic policy.

($1 = 113.5300 yen) (Reporting by Leika Kihara and Takaya Yamaguchi)

Our Standards: The Thomson Reuters Trust Principles.