Japan to Announce More Stimulus Measures Soon
According to a recent report on Nikkei, the Japanese government could soon announce additional stimulus measures worth more than $929 billion to offset the economic damage from the coronavirus pandemic. The package is expected to offer financial aid to companies affected by the pandemic and the resulting shutdown.
This second round of stimulus would add an extra 60 trillion yen worth of loan programs that can help businesses impacted by the global pandemic. It could also include 27 trillion yen worth of financial aid programs.
Japan is expected to experience the worst even recession seen since at least the Second World War, with its GDP contracting even before the outbreak started. So far, the government has already unveiled stimulus programs worth over $1.1 trillion, but with the pandemic still ensuing the world over, business and consumer spending have been hit hard, not just in Japan but all around the world as well.
The government put an end to the state of emergency it announced back in April across most of the country, and is likely to explore easing the shutdown in the remaining regions soon.
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