Japan on Tuesday announced a second package of measures worth about $4 billion i...
TOKYO - Japan on Tuesday announced a second package of measures worth about $4 billion in spending to cope with the fallout to the economy of the coronavirus outbreak, focusing on support for small and mid-sized firms.
To help fund the package, the government will tap the rest of this fiscal year’s budget reserve of about 270 billion yen, Prime Minister Shinzo Abe said. “We need to ascertain the current situation,” Aso told reporters after a cabinet meeting. If was not yet clear if the government needed an extra budget, he said.FINANCIAL SUPPORT
The financial watchdog has urged credit associations and regional banks to hold hearings with small businesses about their financial situation, he added.
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