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Japan unveils emergency economic measures

(Xinhua)
Updated: 2008-08-11 14:45

TOKYO -- Japanese government on Monday unveiled the outline of the emergency economic measures amid mounting inflationary pressures brought by soaring fuel and food prices.

The policy package came after Prime Minister Yasuo Fukuda, who reshuffled his cabinet earlier this month, instructed newly appointed Economic and Fiscal Policy Minister Kaoru Yosano to formulate emergency measures, in an attempt to tackle the threats posed by the rising prices of energy, food and other commodities.

Japanese Prime Minister Yasuo Fukuda (bottom L) talks with newly appointed Japanese Economics Minister Kaoru Yosano during a photo session at the premier's official residence in Tokyo August 2, 2008. [Agencies]

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The measures include financial measures to support small- and medium-sized firms hit by the credit crunch, subsidies to help fisheries and agricultural operators buy new and more energy-efficient equipment, as well as a discount on expressway tolls.

The package will be discussed in detail and is expected to come out later this month.