RIYADH/CAIRO: Japan is considering an economic package worth more than $265 billion (to stimulate the economy following the COVID-19 pandemic. The plan would require issuing new debt, Tokyo-based Kyodo News reported.
A portion of the spending will be coming from funds carried from last year’s budget.
Moreover, in a bid to distribute wealth to the wider public, Japan’s prime minister announced plans to establish an $88 billion university fund.
The fund is expected to strengthen the country's position as a science and technology nation.
Consumer confidence in Indonesia
Indonesia’s consumer confidence index went up considerably to 113.4 points in October, up from 95.5 last month, data from Bank Indonesia showed. This is the highest level since March 2020.
All of the indicator’s sub-indexes experienced positive changes. Most notably, consumers’ assessment for current economic conditions improved significantly. Their economic outlook also enhanced noticeably.
Foreign exchange reserves
Japan’s foreign exchange reserves reached $1.4 trillion by the end of October, dropping slightly from September’s $1.41 trillion, official data revealed.
Meanwhile, South Africa’s foreign exchange reserves stood at $57.2 billion in October, edging slightly upwards from the previous month’s level of $57.1 billion, the South African Reserve Bank said.
The rise was mainly driven by higher US dollar gold prices and the depreciation of the US dollar against other currencies.
