Header Ads

Header ADS

The Japanese Government Approves A 55.7 Trillion-yen Fiscal Stimulus Plan

The Japanese Government Approves A 55.7 Trillion-yen Fiscal Stimulus Plan

The cabinet of Japanese Prime Minister Fumio Kishida approved a new round of fiscal stimulus plan last week, with a total expenditure of 55.7 trillion yen (approximately US$490 billion), a new high. Local officials expect the stimulus plan is expected to bring about 5.6% boost to GDP, and most of the effects will appear in the two fiscal years this year and next. Fiscal stimulus items include cash subsidies to families, subsidies to companies affected by the new crown epidemic, and reserves for emergency epidemic expenditures. The rescue scale is much higher than the 30-40 trillion yen originally expected by the market. Most of the funds will be provided by a supplementary budget of approximately 32 trillion yen to be prepared this year, and the rest may be filled by next year's budget. However, the relevant plan still needs to be approved by Congress and is expected to meet for review next month.
Blogger 提供.