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Japan Unveils Record $992 Billion Stimulus Amid Virus Emergency

  • Government to distribute 6.3 trillion yen to households, firms
  • New debt will be issued to fund 16.8 trillion yen extra budget
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Abe to Declare Japan Emergency
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Japan unveiled a record 108.2 trillion yen ($992 billion) stimulus package to shield the economy from the coronavirus’ widening as Prime Minister Shinzo Abe declared a state of emergency.

The package’s size, with a headline figure equivalent to 20% of the nation’s annual economic output, highlights the magnitude of the damage that policy makers are bracing for. Japan’s economy faces its biggest crisis since the end of the second World War, Abe told reporters Tuesday.