The Japanese government will soon release an “unprecedented” large support package to protect the economy from the consequences of the corona pandemic. That was promised by Japanese Prime Minister Shinzo Abe, after the number of infections in Tokyo rose by a record sixty on Saturday. He did not go as far as to declare a national emergency, but emphasized that the moment is near.
The “widespread, strong” stimulus will outweigh the aid package during the 2008 financial crisis, Abe said in his televised speech. For example, Japanese households receive money from the government as part of the support package. Municipalities will start programs to prevent unemployment. The Japanese government will prepare the aid package within the next ten days, the prime minister said. Then it will become law as soon as possible.
Japan now has 1,400 coronavirus infections and the death toll is 47.
The United States adopted the largest aid package in history on Friday, worth $ 2,200 billion. According to insiders, Japan previously considered an aid package of at least $ 135 billion.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.