Japan is considering a stimulus package of some $270 billion to counteract the economic decline triggered by the global Covid-19 pandemic, according to Japan Times. This amounts to double the emergency economic package initiated by the government after the 2008-9 global financial crisis.
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“The government and the ruling coalition are considering an emergency economic package worth more than ¥30 trillion ($270 billion) to offset the impact of the coronavirus outbreak, sources close to the matter said.”
“The sum includes spending by the private sector, the sources said Sunday.”
“Spending by the government is likely to surpass ¥15 trillion, which is what it spent on the economic package hammered out during the 2008 global financial crisis sparked by the implosion of the U.S. housing market.”
“The package could involve issuing cash and gift certificates to the public, and even subsidizing travel expenses, they said.”
“It would also facilitate financing for small and midsize companies so they can stay in business and maintain employment.”
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