Japan eyes fresh $1.1 trillion stimulus to combat pandemic pain
Published Date: 5/27/2020
Source: news.yahoo.com
Japan will compile a fresh stimulus package worth $1.1 trillion that will include a sizable amount of direct spending to cushion the economic blow from the coronavirus pandemic, a draft of the budget obtained by Reuters showed on Wednesday. The stimulus, which will be funded partly by a second extra budget, will be on top of a $1.1 trillion package already rolled out last month, putting the total amount Japan spends to combat the virus fallout at 234 trillion yen - roughly 40% of Japan's gross domestic product. The government's 117 trillion yen ($1.1 trillion) in fresh stimulus, to be compiled on Wednesday, will include 33 trillion yen in direct spending, the draft showed.