Japanese Prime Minister Fumio Kishida announced Thursday a stimulus package of more than 17 trillion yen ($113 billion) that includes tax breaks and benefits for low-income households, a plan criticized by some observers as populist spending that would worsen Japan’s national debt.
Kishida said his priorities are to overcome deflation and to put the economy on a growth track. Tax revenues will increase only when the economy grows and lead to fiscal health, he told a news conference, explaining the package endorsed by his Cabinet earlier in the day.
