Japan increased emergency assistance package to a record 1,090 billion USD

The Japanese cabinet has approved an additional budget for fiscal year 2020 of about 25.69 trillion yen (238.3 billion USD). Photo: Nikkei.
The Japanese cabinet has approved an additional budget for fiscal year 2020 of about 25.69 trillion yen (238.3 billion USD). Photo: Nikkei.

Japan launched an emergency support package with a record of 1,090 billion USD. Accordingly, the Government will provide cash support per person instead of households as previous bailout packages.

According to Asia Nikkei, on April 20, the Japanese government announced an increase in emergency assistance to a record 117.1 trillion yen (US $ 1.09 trillion), to help prevent the economic decline due to Covid-19 epidemic caused.

Prime Minister Shinzo Abe said he was under pressure from the Komeito coalition party to adopt a 100,000 yen (about 930 USD) cash aid package for each individual, instead of the original plan of 300,000 yen (about $ 2,800 USD). ) for every household whose income plummeted due to disease.

The Japanese cabinet has approved an additional budget for fiscal year 2020 of about 25.69 trillion yen ($ 238.3 billion) to support the largest ever stimulus package. this country.

Earlier, on April 7, the Japanese government approved a relief package of 108.2 trillion yen (US $ 1,000 billion), equivalent to about 20% of the GDP of the world’s third largest economy.

According to Asia Nikkei, to support about 126 million people, the Japanese budget needs an additional 8.88 trillion yen. The government must issue a 23 trillion yen deficit deficit bond to fund this new support plan.

The additional budget is expected to be submitted to the Japanese National Assembly on April 27 and enacted on May 1, a week later than the government’s original plan. Officials said the cash aid is expected to begin at the end of May, and people need to register online or via email.

Another is included in the emergency support package for self-employed and middle-sized companies whose revenue has dropped significantly due to the epidemic, with subsidies of up to 2 million yen.

The government will also extend special subsidies worth 1,000 billion yen to local governments to provide financial support to companies suspended from emergency operations nationwide until May 6. .

About 13.9 billion yen was used to triple Avigan’s anti-influenza drugs to the national stockpile, to ensure enough treatment for 2 million people.

The drug, developed by a company under Fujifilm Holdings Corp, is being tested to treat respiratory disease caused by the new strain of corona virus. According to several studies from China, this drug is effective in treating patients with Covid-19 infection.

Source: https://behecare.com/

Be the first to comment

Leave a Reply

Your email address will not be published.


*