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 retail sales data have suggested that Japan’s economy was showing signs of resilience as the virus ripped through Asia in February, noted Tom Learmouth, Japan economist at Capital Economics. While Tokyo’s governor has urged the city’s 13.5 million residents to telework where possible until April 12, many workers have continued to commute into their offices.About 80% of companies in the country do not have the ability to let their employees work remotely, according to 2019 government data, and Japan’s work culture makes it hard to persuade people to stay home.

Japan Virus Tokyo  announced  trillion  economy  japan  shinzo  coronavirus  abe  package  work  united  plan  relief  virus  tokyo

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’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, 3 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 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 …

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 …

Japan's economy shrinks 4.8% due to Covid in 2020
4 years, 1 month ago

Japan's economy shrinks 4.8% due to Covid in 2020

India TV News  

Japan's economy surged in the fourth quarter of 2020 but it was not enough to keep the world's third-largest economy away from negative growth for the year as the economy shrank 4.8 percent due to the Covid-triggered crises -- the first contraction since 2009. The growth figures come as Japan's Nikkei index briefly hit 30,000 for the first time since …

Japan’s economy performed better than expected in last quarter
4 years, 1 month ago

Japan’s economy performed better than expected in last quarter

Al Jazeera  

But the recovery is slowing and economists expect Japan’s economy to shrink again this quarter due to a second state of emergency to control the spread of the coronavirus. The world’s third-largest economy grew by an annualised 12.7 percent in October-December compared with the previous three months, government data showed on Monday, marking the second-straight quarter of expansion and exceeding …

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 impact: Japan's record economic plunge wipes out Abe era gains
4 years, 7 months ago

Coronavirus impact: Japan's record economic plunge wipes out Abe era gains

India Today  

Japan was hit by its biggest economic slump on record in the second quarter as the coronavirus pandemic emptied shopping malls and crushed demand for cars and other exports, bolstering the case for bolder policy action to prevent a deeper recession. The third straight quarter of declines knocked the size of real gross domestic product to decade-low levels, wiping out …

Japan's spending slump eases as economy reopens, coronavirus clouds outlook
4 years, 7 months ago

Japan's spending slump eases as economy reopens, coronavirus clouds outlook

India Today  

Japan's household spending fell at a much slower pace in June than in the previous month as the economy re-opened from lockdown measures to contain the coronavirus pandemic, offering some hope of a moderate recovery later this year. Household spending in June declined 1.2 per cent from a year earlier, government data showed on Friday, less than a median market …

After the Virus: Japan’s Painful Economic Recovery
4 years, 8 months ago

After the Virus: Japan’s Painful Economic Recovery

The Diplomat  

Japan’s 2020 Olympic dreams are gone, the economy is in recession, and the COVID-19 pandemic has tragically caused nearly 1,000 deaths and counting in the country. Amid growing international pressure, including threats of athlete boycotts, the International Olympic Committee announced on March 24 that the Games would be pushed back to “not later than summer 2021” to “safeguard the health …

PM Shinzo Abe declares end to Japan’s coronavirus emergency
4 years, 10 months ago

PM Shinzo Abe declares end to Japan’s coronavirus emergency

Al Jazeera  

Nationwide restrictions end as state of emergency is lifted in Tokyo and four other areas. Japanese Prime Minister Shinzo Abe has lifted a state of emergency in Tokyo and four other areas that were still under coronavirus restrictions, gradually reopening the world’s third-largest economy and calling on people to adapt to a “new normal”. “Recently, new infection cases have fallen …

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 …

How Shinzo Abe has fumbled Japan's coronavirus response
4 years, 11 months ago

How Shinzo Abe has fumbled Japan's coronavirus response

ABC  

As countries around the world debate when and how to ease pandemic restrictions, coronavirus infections continue their steady rise in Japan. Opinion polls now show at least half of Japanese disapprove of the Government's handling of the crisis and believe Mr Abe's national emergency declaration came too late. Stay up-to-date on the coronavirus outbreak Download the ABC News app and …

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 …

Coronavirus: Asian Development Bank triples rescue package to $20 billion
4 years, 11 months ago

Coronavirus: Asian Development Bank triples rescue package to $20 billion

Live Mint  

The Asian Development Bank is tripling the amount of quick-disbursing loans available to developing member countries in Asia to $20 billion to help them battle the economic and health effects of the coronavirus pandemic, its president said. President Masatsugu Asakawa said the ADB was adding $13.5 billion to the initial $6.5 billion package it announced last month because the economic …

‘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 …

COVID-19: Japan moves to declare emergency in 7 cities including Tokyo, Osaka
4 years, 11 months ago

COVID-19: Japan moves to declare emergency in 7 cities including Tokyo, Osaka

India TV News  

Japan is likely to declare a state of emergency in seven cities including Tokyo, Osaka amid coronavirus outbreak, AFP reported. Once the Shinzo Abe administration declares an emergency, it will allow states to make laws to contain the spread of coronavirus. In a tweet by Japan's PM office, it said, "PM Abe spoke to the press and explained the government’s …

Japan's Shinzo Abe Will Declare State Of Emergency As Coronavirus Cases Surge
4 years, 11 months ago

Japan's Shinzo Abe Will Declare State Of Emergency As Coronavirus Cases Surge

NPR  

Japan's Shinzo Abe Will Declare State Of Emergency As Coronavirus Cases Surge Enlarge this image toggle caption Kiyoshi Ota/Bloomberg via Getty Images Kiyoshi Ota/Bloomberg via Getty Images Prime Minister Shinzo Abe is preparing to declare modern Japan's first-ever state of emergency in response to a sudden increase in novel coronavirus cases in the capital, Tokyo, and several of the country's …

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
5 years 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 …

Will the $2 trillion American coronavirus economic bailout package be enough?
5 years ago

Will the $2 trillion American coronavirus economic bailout package be enough?

The Independent  

Two trillion American dollars. The Republican Senate leader Mitch McConnell described it as: “In effect … a wartime level of investment into our nation.” It’s more than double the $800bn US stimulus package implemented during the global financial crisis. America’s Tax Policy Centre think tank estimates that about a third of the payments will go to households in the most …

Global economy coronavirus bailout reaches $7 trillion and counting
5 years 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 …

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 …

New calculations show coronavirus will sap $34 billion dollars from economy, prompting need for urgent stimulus
5 years ago

New calculations show coronavirus will sap $34 billion dollars from economy, prompting need for urgent stimulus

ABC  

As the impact of COVID-19 takes hold, the head of Australia's Department of Treasury has flagged an urgent need for targeted stimulus, as new modelling shows $34 billion could be wiped from Australia's economy this year. Key points: The head of Treasury said the negative impact of bushfires and coronavirus would be larger than economic growth in the previous quarter …

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 Abe orders antivirus steps as December consumption falls
5 years, 1 month ago

Japan’s Abe orders antivirus steps as December consumption falls

Al Jazeera  

The government said is watching developments closely as the virus outbreak could hurt inbound tourism and consumption. Japanese Prime Minister Shinzo Abe has ordered his government to take “all necessary steps” to mitigate the effects of the virus outbreak on the economy, including tapping state budget reserves, Economy Minister Yasutoshi Nishimura said on Friday. “There’s a risk the coronavirus outbreak …

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 …

Ready to roll: Japan’s finance minister prepared to boost economy
5 years, 5 months ago

Ready to roll: Japan’s finance minister prepared to boost economy

Al Jazeera  

The Japanese government is prepared to unleash fiscal and monetary stimulus although it sees no need to act immediately. Japan’s Finance Minister Taro Aso says he is ready to give the world’s third-largest economy a boost, as it struggles with the effects of the trade war between the United States and China. While global risks are nowhere near those seen …

Japan’s Shinzo Abe plans up to $90.7 billion stimulus: report
8 years, 9 months ago

Japan’s Shinzo Abe plans up to $90.7 billion stimulus: report

Live Mint  

Tokyo: Japan Prime Minister Shinzo Abe plans to propose a fiscal stimulus package of as much as 10 trillion yen after warning Group of Seven leaders that the global economy faces significant risk of another crisis, according to the Nikkei newspaper. Abe will seek a second supplementary budget worth 5 trillion yen to 10 trillion yen after July’s upper-house election, …

Shinzo Abe plans new Japan stimulus, budget front-loading: report
9 years ago

Shinzo Abe plans new Japan stimulus, budget front-loading: report

Live Mint  

Tokyo: Japanese Prime Minister Shinzo Abe plans to announce a package of new spending measures on Tuesday to boost the economy, the Nikkei newspaper reported, without saying where it obtained the information. Abe will probably give details of the measures at a press conference the same day that Japan’s 96.7 trillion yen budget for fiscal 2016 is expected to become …

Japan proposes record budget to help economy hit by recession
10 years, 2 months ago

Japan proposes record budget to help economy hit by recession

Live Mint  

Japan plans a record budget for next fiscal year to support an economy that fell into recession after Prime Minister Shinzo Abe’s government increased the sales tax. “The budget will continue to grow each year as it gets increasingly difficult to curb social welfare spending due to Japan’s aging population,” said Kyohei Morita, chief Japan economist at Barclays Plc. “Given …

Japan weighs up to ¥3 trillion extra budget to boost economy
10 years, 3 months ago

Japan weighs up to ¥3 trillion extra budget to boost economy

Live Mint  

Tokyo: Japan’s government is considering an extra budget worth as much as ¥3 trillion to help the economy recover from recession, according to people involved in the discussions. Burdened by the world’s heaviest debt load, Prime Minister Shinzo Abe has little room to borrow and spend to jump start an economy that suffered its fourth recession since 2008 following April’s …

Japan unveils record budget even as Shinzo Abe trims new bond sales
11 years, 3 months ago

Japan unveils record budget even as Shinzo Abe trims new bond sales

Live Mint  

Tokyo: Japan unveiled a record budget for next fiscal year, as Prime Minister Shinzo Abe boosts spending on social security, defense and public works while trying to contain growth in the world’s biggest debt burden. Government ministers and the ruling coalition adopted the ¥95.88 trillion budget proposal for the year from 1 April at a meeting on Saturday in Tokyo, …

Japan disasters to cost up to $300 billion: Report
14 years ago

Japan disasters to cost up to $300 billion: Report

The Hindu  

The government expects the economic toll from Japan’s earthquake and tsunami could exceed $300 billion, considerably higher than other estimates, a report said on Wednesday. Economy Minister Kaoru Yosano will present the estimate of 15 trillion yen to 25 trillion yen at a Cabinet meeting on Wednesday, the newspaper Nihon Keizai Shimbun said. The March 11 magnitude-9.0 quake and tsunami …

Coping with a slump
26 years, 10 months ago

Coping with a slump

The Hindu  

The Japanese economy is in big trouble. According to the Government, there is an equivalent of 12,000 billion yen in extra spending in that package which should raise growth by 2 percentage points over the next 12 months. The package includes temporary tax cuts totalling 2,000 billion yen this year and a further 2,000 billion yen next year; public works …

Discover Related