Japan Compiles Fresh $700 Bil. Stimulus Package
Japan's Prime Minister says the government has compiled an additional stimulus package worth over 700 billion dollars to tackle the effects of the coronavirus pandemic on the economy.
Prime Minister Suga Yoshihide spoke at a meeting with senior officials on Tuesday.
Suga said, "This economic package is to maintain employment, keep business going, revive the economy and open a path to growth including through green and digital technology."
Measures will include support for hospitals and nursing homes, as well as financial aid for businesses.
The package ramps up investment in green technologies as Japan tries to shift to a net zero carbon footprint by 2050.
Plans to extend a program promoting domestic travel will be funded by the stimulus. The government will also help companies as they try to avoid cutting staff.
The cabinet is to expected to approve the package on Tuesday evening.
