Japan Needs Hundreds of Billions More in Stimulus, Lawmaker Says
- Japan should spend as ambitiously as the U.S., says Yamamoto
- The Abenomics architect says more debt would feed BOJ stimulus
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Japan needs to double the nearly $700 billion it’s already budgeted in extra spending to ensure a recovery from the pandemic, says an influential ruling party lawmaker who helped shape the country’s economic strategy.
Kozo Yamamoto, who played a key role in crafting the fiscal and monetary framework known as Abenomics and is readying new proposals for Prime Minister Yoshihide Suga, says Japan needs another big dose of fiscal medicine that’s as ambitious as the aid bill just passed in the U.S.