Japan’s stimulus package to include aid to firms hit by rising oil cost -draft

Written by on November 12, 2021

November 12, 2021

TOKYO (Reuters) – Japan’s economic stimulus package will include steps to cushion the blow to firms from rising crude oil prices, a draft plan of the government’s package obtained by Reuters showed on Friday.

The package will also include steps to ramp up domestic production of semiconductors as well as a 10 trillion yen ($87.53 billion) fund aimed at giving universities more resources to boost science and technological research, the draft showed.

The draft does not include the total size of spending, which will likely be finalised through negotiations with ruling party lawmakers next week.

The government is scheduled to finalise the package on Nov. 19.

($1 = 114.2500 yen)

(Reporting by Takaya Yamaguchi; Writing by Leika Kihara; Editing by Christopher Cushing)

Current track