Japanese government announced a second coronavirus relief package that is worth JPY 430.8B. Prime Minister Shinzo Abe pledged to “carry out necessary and sufficient economic and fiscal management without hesitation or delay, while fully ascertaining economic moves and effects on the people’s livelihoods from now on as well”.
The government would fund the package by tapping the rest of this fiscal year’s budget reserved around JPY 270B. Finance Minister Taro Aso said, if was not yet clear if the government needed an extra budget. The package will provide support to small and tiny business in needed of financing. It will also support improvements to medical facilities, promoting work from home and subsidies to working parents.
