Japan’s PM announces a $490 billion stimulus program

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19 November 2021 Current Affairs:Fumio Kishida, Japan’s Prime Minister, launched a record-breaking stimulus plan of over 56 trillion Japanese yen.

Highlights:
By the end of 2021, the Japanese government will additionally create an additional budget to support the stimulus programme and provide needed assistance to the people.
For those under the age of 18, the plan includes payments of 100,000 yen.
It also includes financial assistance for struggling companies, as well as Kishida and other lawmakers.
The bundle also includes enough content and scale to provide individuals with a sense of security and optimism.
This stimulus defies a worldwide trend of reducing crisis-mode stimulus. It also adds to Japan’s already precarious financial situation.
Because of large payouts to people and businesses affected by the covid-19 epidemic, the scale of spending was projected to be larger than 30-40 trillion yen by markets.
 

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