Japan Cabinet OKs record stimulus package to fix economy
3 years, 4 months ago

Japan Cabinet OKs record stimulus package to fix economy

Associated Press  

TOKYO — Japan’s Cabinet approved on Friday a record 56 trillion yen stimulus package, including cash handouts and aid to ailing businesses, to help the economy out of the doldrums worsened by the coronavirus pandemic. “The package has more than enough content and scale to deliver a sense of security and hope to the people,” Prime Minister Fumio Kishida told reporters in announcing the plan earlier in the day. Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities, said the government needs to focus on getting spending going again, and the GoTo campaign could prove effective. “We want to support those people who are suffering because of the coronavirus, while steering our nation’s sorely damaged economy back to health,” Kishida said.

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History of this topic

Japan approves $141 billion stimulus to boost economy, offset living costs
4 months ago

Japan approves $141 billion stimulus to boost economy, offset living costs

Live Mint  

TOKYO—Japan’s cabinet on Friday approved an economic stimulus package worth more than $140 billion, in Prime Minister Shigeru Ishiba’s latest push to tackle inflation and boost growth after his coalition suffered a bruising electoral defeat last month. The package totalling 21.9 trillion yen, equivalent to $141.71 billion, is aimed at easing rising living costs and promoting business innovation and investment. …

Japan passes $250B economic package meant to lift wages and spur growth
4 months ago

Japan passes $250B economic package meant to lift wages and spur growth

Associated Press  

TOKYO — Japan approved a 39 trillion yen economic stimulus package Friday centered around initiatives it said were aimed at boosting individual incomes. It provides support for digital innovation in the world’s fourth largest economy, subsidies to defray for rising energy costs and help for low-income households. “During the past 30 years, our nation has overcome various challenges, including deflation …

Japan Cabinet OKs record military budget to speed up strike capability, eases lethal arms export ban
1 year, 3 months ago

Japan Cabinet OKs record military budget to speed up strike capability, eases lethal arms export ban

Associated Press  

TOKYO — Japan’s Cabinet on Friday approved a hefty 16% increase in military spending next year and eased its postwar ban on lethal weapons exports, underscoring a shift away from the country’s self-defense-only principle. The easing would help strengthen Japan’s feeble defense industry and broaden the country’s new official military aid designed for like-minded nations in the Indo-Pacific region in …

Japan’s prime minister announces $113 billion in stimulus spending
1 year, 4 months ago

Japan’s prime minister announces $113 billion in stimulus spending

Associated Press  

TOKYO — Japanese Prime Minister Fumio Kishida announced Thursday a stimulus package of more than 17 trillion yen that includes tax breaks and benefits for low-income households, a plan criticized by some observers as populist spending that would worsen Japan’s national debt. Takahide Kiuchi, executive economist at the Nomura Research Institute, said the package’s effect on the economy will be …

Japan’s Kishida advances $940bn budget aimed at pandemic recovery
3 years, 2 months ago

Japan’s Kishida advances $940bn budget aimed at pandemic recovery

Al Jazeera  

Th record spend comes despite public debt that is more than twice the size of the country’s $5 trillion economy. The 107.6 trillion yen budget for the fiscal year 2022-2023, which starts in April, is Japan’s biggest-ever initial spending plan, underlining its priority on reviving the pandemic-hit economy over restoring long-term fiscal health. The first annual budget under Kishida comes …

Japan PM Kishida unveils $490bn stimulus package
3 years, 4 months ago

Japan PM Kishida unveils $490bn stimulus package

Al Jazeera  

Japanese leader announces record spending as economy struggles to bounce back from the pandemic. Japan’s Prime Minister Fumio Kishida has unveiled a record-breaking stimulus package worth approximately 56 trillion Japanese yen. “Though Kishida has been known in the past for being somewhat hawkish, he appears set to continue the Abenomics paradigm for several more years.” The size of spending was …

World’s economic recovery gets delayed by slow vaccine rollouts
4 years, 1 month ago

World’s economic recovery gets delayed by slow vaccine rollouts

Live Mint  

The world economy is facing a tougher start to 2021 than expected as coronavirus infections surge and it takes time to roll out vaccinations. Record cases in the US are dragging on retail spending and hiring, prompting President Joe Biden’s new administration to seek an extra $1.9 trillion worth of fiscal stimulus. “That’s a reflection of the hard reality that, …

Japan approves $700 billion stimulus package
4 years, 3 months ago

Japan approves $700 billion stimulus package

Live Mint  

Japan's government on Tuesday approved more than $700 billion in fresh stimulus to fund projects from anti-coronavirus measures to green tech, the country's third such package this financial year. Japan's latest package, worth 73.6 trillion yen, includes loan schemes and actual government spending of around 40 trillion yen. Japan officially exited recession last month after three quarters of contraction, and …

Japan announces $708bn in fresh stimulus as COVID-19 cases rise
4 years, 3 months ago

Japan announces $708bn in fresh stimulus as COVID-19 cases rise

Al Jazeera  

Japan announces a fresh stimulus package worth $708bn even as new COVID-19 cases cast a shadow on better GDP data. Japan will compile a fresh economic stimulus package worth 73.6 trillion yen, Prime Minister Yoshihide Suga said on Tuesday, signalling his resolve to pull the country out of its coronavirus crisis-induced slump. The new stimulus package will include fiscal spending …

India announces $35 billion economic stimulus package
4 years, 4 months ago

India announces $35 billion economic stimulus package

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy India’s finance minister on Thursday …

Coronavirus Outbreak: Govt's fiscal stimulus package 'hopelessly inadequate', says P Chidambaram
4 years, 10 months ago

Coronavirus Outbreak: Govt's fiscal stimulus package 'hopelessly inadequate', says P Chidambaram

Firstpost  

The Congress on Monday said the fiscal stimulus package announced by the government is “hopelessly inadequate” given the gravity of the economic crisis as it amounts to only Rs 1.86 crore, which is 0.91 percent of the GDP New Delhi: The Congress on Monday said the fiscal stimulus package announced by the government is “hopelessly inadequate” given the gravity of …

Japan slips into recession, and the worst may be yet to come
4 years, 10 months ago

Japan slips into recession, and the worst may be yet to come

Al Jazeera  

Japan’s GDP shrank by 3.4 percent in the first quarter as its main export markets were crushed by coronavirus lockdowns. “It’s near certainty the economy suffered an even deeper decline in the current quarter,” said Yuichi Kodama, chief economist at Meiji Yasuda Research Institute. “Japan has entered a full-blown recession.” The world’s third-largest economy contracted by an annualised 3.4 percent …

Coronavirus | Japan offers $930 virus stimulus payment to all residents
4 years, 11 months ago

Coronavirus | Japan offers $930 virus stimulus payment to all residents

The Hindu  

Japan will offer a cash payment of 100,000 yen to every resident, Prime Minister Shinzo Abe announced Friday, as measures to contain the coronavirus decimate the world's third-top economy. “We are moving quickly to deliver cash to all people,” Mr. Abe said in a televised news conference to explain his decision to expand a state of emergency nationwide. An initial …

India needs a stimulus to offset covid impact: IMF
4 years, 11 months ago

India needs a stimulus to offset covid impact: IMF

Live Mint  

India should ease its fiscal stance and announce a stimulus package to guard against the sharp slowdown in economic growth and job losses expected from the nationwide lockdown, the International Monetary Fund said on Wednesday. “In India, the fiscal stance should be eased as needed to accommodate necessary increases in public health expenditure in response to the pandemic and shield …

‘Severe impact’: Bank of Japan warns of worsening funding strains
4 years, 11 months ago

‘Severe impact’: Bank of Japan warns of worsening funding strains

Al Jazeera  

Japan’s central bank head said the pandemic is hurting the country’s exports, output, tourism and consumption. Uncertainty over Japan’s economic outlook is “extremely high” as the coronavirus pandemic hits output and consumption, central bank Governor Haruhiko Kuroda said, stressing his readiness to take additional monetary steps to prevent a deep recession. While aggressive central bank actions across the globe have …

Coronavirus | Japan's state of emergency is no lockdown. What's in it?
4 years, 11 months ago

Coronavirus | Japan's state of emergency is no lockdown. What's in it?

The Hindu  

Prime Minister Shinzo Abe has declared a state of emergency in Tokyo and six other hard-hit Japanese prefectures to fortify the fight against the coronavirus outbreak. A. Mr. Abe was facing heavy pressure to declare a state of emergency after the number of new cases in Tokyo began doubling every several days in late March. A. Mr. Abe also announced …

Japan’s Abe unveils massive $1 trillion coronavirus aid package
4 years, 11 months ago

Japan’s Abe unveils massive $1 trillion coronavirus aid package

Al Jazeera  

Japanese Prime Minister Shinzo Abe on Tuesday declared a state of emergency to fight coronavirus infections in major population centres and rolled out a nearly one-trillion-dollar stimulus package to soften the economic blow. Abe said that by reducing contact between people by 70 percent to 80 percent, the government hoped infections would peak in two weeks. That is equal to …

Japan set to announce record economic stimulus package
4 years, 11 months ago

Japan set to announce record economic stimulus package

Al Jazeera  

Prime Minister Shinzo Abe due to roll out nearly $1 trillion in spending and impose virus emergency. Japan’s government is planning on Tuesday to finalise a significant stimulus package worth 108 trillion yen – equal to 20 percent of Japan’s economic output – to cushion the heavy effect of the coronavirus pandemic on the world’s third-largest economy. Prime Minister Shinzo …

Japan economy: Shinzo Abe has $1 trillion coronavirus relief plan
4 years, 11 months ago

Japan economy: Shinzo Abe has $1 trillion coronavirus relief plan

CNN  

Hong Kong CNN Business — Japan is committing nearly $1 trillionto try to protect its economy from the fallout from the coronavirus pandemic. Japanese Prime Minister Shinzo Abe on Monday announced a 108 trillion yen relief package — a staggering amount equivalent to about 20% of the annual output of the world’s third biggest economy. Recent unemployment, industrial production and …

Japan calls coronavirus pandemic ‘biggest crisis’ since world war
4 years, 11 months ago

Japan calls coronavirus pandemic ‘biggest crisis’ since world war

Al Jazeera  

Japanese Prime Minister Shinzo Abe’s government is to pledge to take “all steps” encompassing fiscal, monetary and tax policies to battle the deepening fallout from the coronavirus in a stimulus package to be approved on Tuesday, a draft document reviewed by Reuters news agency showed. Abe has pledged to craft an “unprecedented” stimulus package to respond to the global downturn …

US Congress passes USD 2 trillion stimulus package to sail through coronavirus crisis
4 years, 11 months ago

US Congress passes USD 2 trillion stimulus package to sail through coronavirus crisis

India TV News  

The US Congress on Friday passed the historic USD 2 trillion rescue package to help the Americans and secure the country's economy ravaged by the coronavirus pandemic that has infected over 94,000 people across the nation. The bill among other things gives USD 3,400 for most of the American families of four, and billions of dollars’ worth of financial assistance …

Global economy coronavirus bailout reaches $7 trillion and counting
4 years, 11 months ago

Global economy coronavirus bailout reaches $7 trillion and counting

CNN  

London CNN Business — The United States, Europe, Japan, China and India are unleashing trillions of dollars in government spending and newly created money as they desperately attempt to keep the global economy from sinking into depression. The figure includes the $2 trillion US relief package working its way through Congress and an anticipated 30 trillion yen in stimulus from …

America's $US2 trillion coronavirus emergency cash bill has passed the Senate, but the fight isn't over
4 years, 11 months ago

America's $US2 trillion coronavirus emergency cash bill has passed the Senate, but the fight isn't over

ABC  

With millions of people's financial futures at stake, US senators and the Trump administration have struck an agreement on a $US2 trillion package to help the US economy manage the impact of coronavirus. Stay up-to-date on the coronavirus outbreak Download the ABC News app and subscribe to our range of news alerts for the latest on how the pandemic is …

Coronavirus stimulus package worth $84 billion passed without objection by Parliament
4 years, 11 months ago

Coronavirus stimulus package worth $84 billion passed without objection by Parliament

ABC  

The Federal Parliament has rushed through $84 billion in financial support for workers, students and businesses affected by the coronavirus outbreak, before wrapping up for a five-month-long break. Key points: The bills were passed late on Monday night without objection in the House The first direct payments won't be made until April 27 Parliament won't resume until August, while the …

Japan’s Abe to launch panel to mull big stimulus package: Report
5 years ago

Japan’s Abe to launch panel to mull big stimulus package: Report

Al Jazeera  

Japan’s economy comes under pressure as exports and imports fall due to coronavirus pandemic. Japanese Prime Minister Shinzo Abe will form a panel of key ministers and the central bank governor on Thursday to lay out a package to help the economy weather the hit from the coronavirus outbreak, a government official with direct knowledge of the matter has said. …

Billions of dollars pumped into coronavirus-hit economy in bid to stave off recession, Scott Morrison announces
5 years ago

Billions of dollars pumped into coronavirus-hit economy in bid to stave off recession, Scott Morrison announces

ABC  

The Federal Government has announced a $17.6 billion economic stimulus package in a bid to keep Australians in jobs as the economy takes a hit from the spread of coronavirus. Key points: The Government will pump $11 billion into the economy between now and July Welfare recipients will get $750, and there will be tax breaks for small businesses The …

Coronavirus effect on world economy grows more alarming
5 years ago

Coronavirus effect on world economy grows more alarming

India Today  

Concerns about the coronavirus outbreak's threat to the world economy grew Saturday, even after President Donald Trump denounced criticism of his response to the threat as a "hoax" cooked up by his political enemies. Trump accused Democrats of "politicizing" the coronavirus threat and boasted about preventive steps he's ordered in an attempt to keep the virus from spreading across the …

Asian governments brace for economic effects of coronavirus
5 years, 1 month ago

Asian governments brace for economic effects of coronavirus

Al Jazeera  

Japan warns of a slump in growth, Singapore could see a recession and Malaysia will announce a stimulus package. Singapore‘s economy could enter recession due to the blow from the coronavirus outbreak, its prime minister said on Friday, while neighbouring Malaysia said it would announce a stimulus package to mitigate the negative effects of the virus outbreak. Bank of Japan …

Japan’s economy to get $119bn stimulus: PM Abe
5 years, 3 months ago

Japan’s economy to get $119bn stimulus: PM Abe

Al Jazeera  

The country has struggled with slowing growth due to a slump in exports, a recent sales tax hike and natural disasters. Japan‘s Prime Minister Shinzo Abe said on Thursday that his government would compile an economic stimulus package worth about 13 trillion yen in fiscal spending, including an extra budget from this fiscal year and spending earmarked for the 2020 …

Bank of Japan refrains from boosting stimulus as recovery seen
10 years, 11 months ago

Bank of Japan refrains from boosting stimulus as recovery seen

Live Mint  

Tokyo: The Bank of Japan refrained from adding extra stimulus as policymakers said the world’s third-biggest economy can maintain a recovery even with last week’s increase in the sales tax. Governor Haruhiko Kuroda and his board kept a pledge to expand the monetary base at a pace of ¥60 trillion to ¥70 trillion per year, the central bank said in …

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