Japan's ruling party calls for S$794 billion stimulus package: Report

TOKYO (REUTERS) – Japan’s ruling Liberal Democratic Party (LDP) proposed on Monday (March 30) compiling a stimulus package worth 60 trillion yen (S$794 billion) to mitigate the hit to the economy from the coronavirus pandemic, Kyodo news agency reported.

The proposed package includes direct government spending of around 20 trillion yen, Kyodo reported, without citing sources.

Meanwhile, Japan’s top government spokesman said on Monday there was no truth to rumours the government was planning to declare a state of emergency from April 1 to slow the spread of the pandemic.

Chief Cabinet Secretary Yoshihide Suga also told a news conference that an expected phone meeting between Prime Minister Shinzo Abe and Dr Tedros Adhanom Ghebreyesus, the head of the World Health Organisation, had nothing to do with any decision on whether to call a state of emergency in Japan.

Source: Read Full Article