Japan Govt OKs Record 108-T.-Yen Emergency Stimulus Package

Politics

Tokyo, April 7 (Jiji Press)--The Japanese government adopted on Tuesday an emergency economic stimulus package worth a record 108.2 trillion yen to fight the rapidly spreading coronavirus outbreak and minimize its impact on the domestic economy.

The package, approved at an extraordinary cabinet meeting, features cash benefits totaling more than 6 trillion yen to households, companies and self-employed people experiencing severe income falls due to the COVID-19 outbreak.

Specifically, 300,000 yen will be paid to eligible households, up to 2 million yen to small and midsize businesses and up to one million yen to freelancers and other self-employed people.

The government aims to start payments of the cash benefits in May.

Also planned for distressed households and companies is a tax and social insurance premium payment moratorium totaling 26 trillion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press