Japan proposes record stimulus package to fix ailing economy
The Hindu
“The package has more than enough content and scale to deliver a sense of security and hope to the people,” Prime Minister Fumio Kishida told reporters.
outlined on Friday a record 56 trillion yen, or $490 billion stimulus package, including cash handouts and aid to ailing businesses, to help the economy out of the doldrums worsened by the coronavirus pandemic.
“The package has more than enough content and scale to deliver a sense of security and hope to the people,” Prime Minister Fumio Kishida told reporters.
The proposal from Mr. Kishida was set for Cabinet approval later in the day but still needs Parliamentary approval. Mr. Kishida has promised speedy action and Parliament is expected to convene next month.
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