Japan PM promises stimulus package for pandemic relief

Japanese Prime Minister Fumio Kishida has promised to compile a stimulus package worth  “several tens of trillion yen” by the end of next week that will include payouts to the society to tide them through the pandemic. 

Of that, cash payouts worth 100,000 yen (US$884) each will be delivered to students, temporary workers and low-income households hit hardest by COVID-19, Kishida said.

Children aged 18 or younger — excluding those of families with annual income exceeding 9.6 million yen (US$84,027) — will also receive cash and vouchers worth a combined 100,000 yen. 

“We will compile an extra budget as soon as possible by the end of this year, to deliver [the payouts] at the earliest date possible,” Kishida said at a news conference, according to Reuters. 

The stimulus package will also include support to the agriculture and fishery sectors, although the prime minister did not reveal the sum. 

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Kishida had earlier outlined an economic policy that will include measures to promote digitalisation, investment in green tech and a review of listing procedures to help startups raise funds more smoothly.