Local rsidents visiting an almost deserted outer area of the Sensoji Temple on Monday (April 6). Prime Minister Shinzo Abe has announced a mega-stimulus plan for the country and plans to declare an emergency in Tokyo and other cities on Tuesday. - AP
TOKYO: Prime Minister Shinzo Abe announced a 108 trillion yen (US$989 billion) stimulus package, Japan’s largest ever, to rescue the coronavirus-hit economy with Tokyo and six other economic hubs set to be put in a state of emergency.
The package, equivalent to about 20% of the nation’s economic output, will include cash handouts worth 6 trillion yen for households and small businesses hit by the virus and offers businesses deferrals on tax and social service costs worth 26 trillion yen, Abe said on Monday (April 6).
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