Japan Govt Adopts 73.6-T.-Yen Stimulus Package

Politics

Tokyo, Dec. 8 (Jiji Press)--Japan's government Tuesday approved an additional stimulus package worth 73.6 trillion yen mainly to facilitate the country's economic structural change in response to the novel coronavirus crisis.

Of the total, including loans to be extended by financial institutions, 30.6 trillion yen will be financed with state funds.

Under the package, adopted at an extraordinary cabinet meeting, the government will create subsidies to help business conversion by small and midsize companies.

The package also includes measures to support research and development for decarbonization and promote the digitalization of the Japanese society, in order to ensure economic growth after the coronavirus crisis is contained.

The package is expected to push up gross domestic product by around 3.6 pct, Prime Minister Yoshihide Suga told a meeting of the government's Council on Economic and Fiscal Policy that preceded the cabinet meeting.

[Copyright The Jiji Press, Ltd.]

Jiji Press