October 26, 2022 [Reuters] – The Japanese government will extend a gasoline subsidy to curb rising energy costs until the first half of the next fiscal year, the Kyodo news agency reported on Wednesday.

The government plans to gradually reduce the subsidy from the middle of the next year, Kyodo reported.

The subsidy will be a part of the government’s economic stimulus package to help ease the burden of rising living costs.

The government will also include support for alleviating rising electricity bills, which will be implemented as early as next January, in the economic package, according to Kyodo.

Japanese ruling party secretary general Toshimitsu Motegi hinted earlier this week that a planned economic spending package will total around 26 trillion yen ($175.47 billion).

The government plans to approve the package at a cabinet meeting on Oct. 28.

($1 = 148.1700 yen)

Reporting by Kaori Kaneko

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