Japan set to roll out $1 trillion package

Apr 07, 2020 | News On Japan

Apr 07, 2020 (NHK) - Japan's government is set to compile an emergency economic package of 108 trillion yen, or about one trillion dollars, to fight the impact of the coronavirus epidemic in the country.

The scale of the package is equivalent to 20 percent of the country's gross domestic product.

The government presented its draft economic plan to the ruling Liberal Democratic Party and its coalition partner Komeito on Monday. The plan is expected to be decided on Tuesday after being approved by the parties.

The package includes securing enough of the anti-flu drug Avigan by the end of next March to treat 2 million people. There is some evidence the drug can help cure COVID-19.

The package also includes payment of about 2,800 dollars to each household whose income has fallen to a certain level due to the epidemic. Applicants must file requests for the cash handout program.

The government also plans to increase the child allowance by about 90 dollars per head to support families receiving the benefit.

A campaign to distribute coupons to boost the tourism and event industries when the epidemic is over is also included.

The government plans to provide cash benefits of up to around 18,000 dollars to small- and medium-sized businesses, and up to about 9,000 dollars to freelancers, when their businesses are hard to continue due to a sharp fall in sales.

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