Japan launches $1 trillion coronavirus stimulus package as Prime Minister Abe announces state of emergency

Apr 06, 2020 - Fortune

Prime Minister Shinzo Abe announced a 108 trillion yen ($989 billion) stimulus package, Japan’s largest ever, to rescue the coronavirus-hit economy with Tokyo and six other economic hubs set to be put in a state of emergency.

The package, equivalent to about 20% of the nation’s economic output, will include cash handouts worth 6 trillion yen for households and small businesses hit by the virus and offers businesses deferrals on tax and social service costs worth 26 trillion yen, Abe sa...