Japan Eyeing Fresh Economic Steps amid Coronavirus Spread

Politics Lifestyle

Tokyo, Feb. 25 (Jiji Press)--Japan's government and ruling bloc on Tuesday started considering additional economic measures, fearing that the spread of the new coronavirus is having a serious impact on the country's economy.

Government and ruling party members are examining strengthening fiscal measures by using reserve funds booked for fiscal 2019 and to be earmarked for fiscal 2020, which will begin in April.

Some call for the compilation of a supplementary budget to boost the fiscal 2020 reserve funds after the expected enactment of the year's draft budget.

The remaining reserve funds for fiscal 2019 stand at 274.3 billion yen. For the next year, 500 billion yen are planned.

The ruling Liberal Democratic Party will propose to the government specific economic measures based on opinions collected from three economic groups, including the Japan Business Federation, or Keidanren, on Wednesday.

[Copyright The Jiji Press, Ltd.]

Jiji Press