Prime Minister Fumio Kishida’s cabinet approved today’s economic stimulus measures covering a record 55.7 trillion yen (about 16 trillion baht) on fiscal spending to Coping with the protracted economic impact caused by the COVID-19 epidemic
Kyodo News Agency reported, citing government sources as saying. The total amount of the stimulus package, including private funding, is 78.9 trillion yen (approximately 22 trillion baht). It will include Mr Kishida’s policies such as narrowing the income gap through wage increases. and maintaining the interests of the country’s economic security
Kishida aims to restore the domestic economy. which has not yet recovered to the level before the epidemicCOVID-19 while trying to achieve the goal of spreading wealth by increasing support for households and companies
In addition, Mr. Kishida also stated that “In the urgent implementation of the economic plan We will revive the economy affected by the COVID-19 epidemic. and push for expansion as soon as possible.”
The key measures in the stimulus plan include giving away 100,000 yen (about 28,000 baht) in cash and gift certificates. For children aged 18 and under, wage increases for nurses and health care groups and provide subsidies of up to 2.5 million yen (about 700,000 baht) to small companies affected by the coronavirus pandemic
Earlier, the Japanese government announced economic stimulus measures worth 40 trillion yen and 38 trillion yen from 2020, which some analysts and some Japanese media noted. In the past, the government has spent the state’s budget in the most beneficial way to help restore the country’s economy as stated or not.
However, Kishida said the stimulus package would increase Japan’s gross domestic product (GDP) by 5.6 percent.
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