Japanese minority government approves $252B economic package

ISTANBUL

Japan’s minority government on Friday approved an economic stimulus package of 39 trillion yen ($252 billion) amid inflation and compromises with resurgent opposition.

The coalition government of Prime Minister Shigeru Ishiba, led by the Liberal Democratic Party (LDP), "pledged to boost disposable incomes by raising the tax-free salary threshold," the Tokyo-based Kyodo News reported.

However, the LDP-Komeito minority government is short of numbers in the lower house of the parliament where it requires the support of 12 more lawmakers to pass the 233 threshold to pass the economic stimulus bill.

It is the first time since 2009 that the LDP lost its parliamentary majority in general elections held last month.

Ishiba is eyeing support from the opposition Democratic Party for the People's (DPP) after accepting its demand to raise the tax-free income threshold, as well as to consider cutting gasoline taxes.

The DPP has 28 lawmakers which can help LDP-Komeito to sail through the parliament easily.