Monday, March 4

Japan introduces financial support for the economy and the population

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Financial support for Japan’s economy and population: who the aid is intended for

The Japanese government will allocate about 692 billion dollars to neutralize the consequences of the pandemic. The authorities hope that such support for the economy and the population will help improve the situation in the country and raise the overall standard of living.
Financial assistance will be directed primarily to those segments that suffered most during the pandemic, as well as citizens with children. Families, whose annual income does not exceed 84 thousand dollars and who have a child under 18 years, the government will pay 877 dollars. A similar amount will go to families who are experiencing financial hardship as a result of the pandemic.
Part of the money to support the economy and the population the authorities will allocate from the state budget – 488.5 billion dollars. The rest of the money is provided by businesses, foundations and various financial institutions.
As for small and medium-sized businesses, the government will send them 219 thousand dollars, which will go to cover the damage and debts. In addition, the Japanese authorities plan to increase the salaries of nurses, kindergarten teachers. In addition, there will be a rate increase for employees of nursing homes and nurses who care for the sick and infirm people. For them, their wages will rise by about 3%.

Economic and population support

When raising rates and paying financial aid, the government will take into account changes in the commodity markets. In the event that the retail price of gasoline increases to $1.5 per liter, refiners will be compensated to control the cost of fuel.
In addition, financial assistance will be provided to families who plan to buy property with energy-saving technologies.
The Japanese government pays great attention to the country’s economic security. According to the prime minister, this is a priority, and the authorities are taking decisive steps to achieve it. Within the framework of this program there is investment in the development of vaccines, increasing the production of semiconductors. 4,3 billion dollars were allocated for these purposes.
In addition, Japan is increasing opportunities for foreigners. Since 2022 the government has expanded the list of sectors where non-residents can be employed. For employment in these areas, the period of stay in the state will not be limited to 5 years, as it was before. In addition, citizens of another country who work in Japan will now be able to invite their family members to visit.
Since 2019, the state has a law that allows the employment of foreign specialists in 14 sectors of the economy, among them – construction, cleaning, agriculture and others. At the same time, for 12 spheres the term of stay in Japan was limited to 5 years. However, the shortage of labor force made the authorities revise the law.

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