Japan Govt to OK 73-T.-Yen Stimulus Package Tues.

Politics

Tokyo, Dec. 7 (Jiji Press)--The Japanese government is expected to approve an additional stimulus package worth some 73 trillion yen at an extraordinary cabinet meeting Tuesday.

The package, including 50 trillion yen in state money, will feature a program to pay up to 100 million yen per recipient to help small companies change their business lines in response to the novel coronavirus crisis.

Also planned is a 2-trillion-yen fund for research and development so that Japan can attain Prime Minister Yoshihide Suga's goal of realizing greenhouse gas net zero emissions by 2050.

It will also include an increase of 1.5 trillion yen in special grants to local governments to make it easier for them to pay additional benefits to restaurants and bars that meet requests for shorter operating hours amid the coronavirus epidemic.

The government is rushing to compile a third supplementary budget for fiscal 2020 and the fiscal 2021 initial budget, which will finance the spending package. It hopes to give cabinet approval to the draft third supplementary budget Dec. 15.

[Copyright The Jiji Press, Ltd.]

Jiji Press