日本拟推超20万亿日元经济刺激计划

Group 1 - The Japanese government, led by Prime Minister Sanna Takashi, is preparing a significant economic stimulus plan totaling 21.3 trillion yen (approximately 135.4 billion USD), marking the largest such measure since the COVID-19 pandemic [1] - The plan includes 17.7 trillion yen in fiscal spending and 2.7 trillion yen in tax cuts, with funding expected from increased overall tax revenue and additional government bond issuance [1][2] - The total scale of the stimulus plan, including private investment driven by government spending, could reach 42.8 trillion yen [1] Group 2 - Market reactions indicate a lack of confidence in Japan's sovereign debt sustainability, with 10-year Japanese government bond yields rising to their highest level since the 2008 financial crisis [2][3] - Japan's debt burden is approximately 250% of its GDP, with interest payments accounting for about 23% of annual tax revenue [2] - The Japanese yen has depreciated significantly, falling below 155 yen to the dollar for the first time since February, while the Nikkei 225 index experienced its largest single-day drop since April [3] Group 3 - The economic data suggests Japan is facing downward pressure, with a reported 0.4% decrease in real GDP for Q3 2025, marking a return to negative growth since Q1 2024 [3] - The government is under pressure to implement a large spending plan due to weak economic indicators, while simultaneously facing challenges from potential yen depreciation and rising import costs [4] - There are concerns about the possibility of the Japanese Ministry of Finance intervening in the foreign exchange market to support the yen amid extreme volatility [4][5]