Japan Readies Record $487bn Stimulus Package: Nikkei Asia

Japan’s economic stimulus package set to be approved by the cabinet on Friday will be a record 55.7 trillion yen ($487 billion) on a fiscal expenditure basis, Nikkei Asia reported.

The package will surpass the previous high set in 2020 in response to the coronavirus pandemic. The size of the stimulus, including private-sector funds, will be 78.9 trillion yen.

Benefits for households and businesses have been raised in line with the distribution policy of Prime Minister Fumio Kishida. An increase in government bonds to cover the deficit is inevitable.

Read the full report: Nikkei Asia

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.