Haruhiko Kuroda, the governor of the Bank of Japan, warned the country's lawmakers on Friday that the outbreak of the new coronavirus decease, COVID-19, might hit the country's economy harder than expected
MOSCOW (Pakistan Point News / Sputnik - 21st February, 2020) Haruhiko Kuroda, the governor of the Bank of Japan, warned the country's lawmakers on Friday that the outbreak of the new coronavirus decease, COVID-19, might hit the country's economy harder than expected.
"We hear specific concerns from businesses such as hotels and department stores about the drop in visitors from China. We need to be aware that the impact on the Japanese economy could be bigger than we expect now," Kuroda said, speaking at a lower house committee, as quoted by Japan's NHK broadcaster.
He also promised to take easing measures if needed and said that the impact of COVID-19 on the global economy would be discussed at the meeting of G20 finance ministers and central bank governors in Saudi Arabia this weekend.
As of Thursday evening, a total of 728 people have tested positive for the coronavirus in Japan, including 634 people on board the Diamond Princess cruise ship, which is quarantined off the port of Yokohama. That same day, media reported that two passengers had died.
The new coronavirus was first detected in China in late December and has since spread to more than 25 other countries, prompting the World Health Organization to declare a global health emergency. The outbreak has already left over 75,000 people infected worldwide and resulted in more than 2,200 deaths.