Japan Stimulus Spending to Hit Record 55.7 T. Yen

Politics

Tokyo, Nov. 18 (Jiji Press)--The amount of fiscal spending in the economic stimulus package to be adopted by the Japanese government Friday is set to reach a record 55.7 trillion yen, informed sources said Thursday.

The total size of the package will be 78.9 trillion yen including private-sector spending, the sources said.

The size will be boosted by a host of measures to cushion the impact of the prolonged novel coronavirus crisis, including 100,000-yen benefits for people under 19 and support for struggling businesses.

In his campaign for the Oct. 31 election for the House of Representatives, the lower chamber of parliament, Prime Minister Fumio Kishida pledged to implement a huge stimulus package worth tens of trillions of yen.

He faces growing calls from within the government and ruling camp for expanding fiscal spending ahead of next summer's election for the House of Councillors, the upper chamber.

[Copyright The Jiji Press, Ltd.]

Jiji Press