Helping hand: A man wearing a protective mask walks past the headquarters of the BoJ. The central bank has pledged cooperation to get funds to struggling businesses. — Reuters
TOKYO: Prime Minister Shinzo Abe is doubling down on his stimulus measures with more than US$1 trillion of extra help to keep businesses and households afloat amid the coronavirus recession, a document obtained by Bloomberg showed yesterday.
The 117 trillion yen (US$1.1 trillion) package includes financing help for struggling companies, subsidies to help firms pay rent and several trillion yen for health care assistance and support for local economies, according to the document. The spending will be funded by a second supplementary budget of 31.9 trillion yen that breaks a record for extra budgeted spending set only last month, the document showed.
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