Japan to spend 29.1 tril. yen on economic package amid inflation

Japan will spend 29.1 trillion yen ($199 billion) under an economic package unveiled Friday, featuring steps to alleviate the pain of accelerating inflation and lift the economy out of the doldrums amid COVID-19, Russia's war against Ukraine and a weaker yen.Faced with faltering public support, the government of Prime Minister Fumio Kishida is reducing household utility bills as a major pillar of the package. It estimates the average household will save 5,000 yen a month from January to September.The total size of the stimulus package, approved by the Cabinet in the afternoon, will reach 71…READ FULL ARTICLE