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Japan Doubles Down to Deliver World’s ‘Biggest’ Stimulus Package

  • Extra spending to be funded by record second extra budget
  • New package totals 117 trillion yen, finance ministry says
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Photographer: Tomohiro Ohsumi/Bloomberg
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Prime Minister Shinzo Abe doubled Japan’s stimulus measures as he looked to deliver on his bold promise to keep businesses and households afloat with the world’s biggest virus-response package.

His cabinet approved Wednesday a 117 trillion yen ($1.1 trillion) set of measures that includes financing help for struggling companies, subsidies to help firms pay rent and several trillion yen for health care assistance and support for local economies. The spending will be funded by a second supplementary budget that breaks a record for an extra budget set only last month.