Japanese Prime Minister Fumio Kishida ordered on Tuesday that an emergency monetary package is promptly developed to soften the consequences of growing prices following the Ukrainian conflict and COVID-19.
"We must work to prevent soaring prices of crude oil, materials, and food from hindering the smooth recovery of economic and societal activities," he said. The cabinet ministers will compile the new stimulus package by late April.
The prime minister plans to finance the package with 5-trillion-yen reserve funds for COVID-19 countermeasures as predicted by the government's fiscal 2022 budget.