Japan's Cabinet has approved a massive 21.3 trillion yen (around $136 billion) stimulus package, aimed at curbing rising prices and boosting economic growth.

But critics warn the plan may do more to raise Prime Minister Sanae Takaichi's profile than to tackle persistent inflation. With Japan's debt-to-GDP ratio at 240 percent, large tax cuts and subsidies could push debt higher, weaken the yen and even drive prices up.