Japan Govt to Spend 40 T. Yen on Extra Stimulus Package

Politics Lifestyle

Tokyo, Dec. 8 (Jiji Press)--The Japanese government plans to spend 40 trillion yen to fund its additional economic policy package, which will be adopted later on Tuesday as part of its efforts to fight against the novel coronavirus crisis.

The new stimulus package, worth 73.6 trillion yen, will include a new subsidy program aimed at supporting capital investment by small companies with business conversion plans.

The government will earmark necessary funds under its third supplementary budget for the current fiscal year ending in March 2021 and the initial budget for the following year. Along with the state budgets, the government's "zaito" fiscal investment and loan program will also be used to cover the 40 trillion yen.

On Tuesday morning, the government and ruling parties held a meeting to discuss the new policy package.

At the meeting, Prime Minister Yoshihide Suga said the government compiled the package to "make a new breakthrough for growth" by including measures related to his zero carbon emission goal and his policy of promoting the digitalization of the Japanese society.

[Copyright The Jiji Press, Ltd.]

Jiji Press