Economics
Japan’s Abe Will Likely Add to Record $555 Billion Stimulus
- Tokyo launched 5 packages in 15 months during financial crisis
- Abe’s party plans 60 trillion yen in measures to counter virus
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Prime Minister Shinzo Abe now has a record stimulus plan to help Japan’s households and businesses survive the coronavirus pandemic. History suggests there will be even more to come.
Japan’s ruling party has proposed a 60 trillion yen ($555 billion) package of measures worth more than 10% of gross domestic product, less than four months after its last economic stimulus. The prime minister had demanded a package bigger than the steps taken during the global financial crisis.