The Japanese government on Tuesday approved a stimulus package worth 108 trillion yen ($990 billion) to help people and businesses affected by the coronavirus pandemic, media reported
TOKYO (Pakistan Point News / Sputnik - 07th April, 2020) The Japanese government on Tuesday approved a stimulus package worth 108 trillion Yen ($990 billion) to help people and businesses affected by the coronavirus pandemic, media reported.
Earlier on Tuesday, Prime Minister Shinzo Abe declared a state of emergency in seven regions across the country, including Tokyo and Osaka, due to the spread of COVID-19.
According to Japan's Kyodo news agency, the government will allocate 300,000 yen to each low-income household that has lost more than 50 percent of their income due to the health crisis, or has seen their income fall to a level that would allow them to stop paying taxes.
Small and medium enterprises will receive up to two million yen in subsidies if their respective revenues decrease by more than half, the news agency said.
The authorities also plan to purchase Avigan, a drug used to treat influenza, in huge quantities, as reports allege it could be used to treat coronavirus patients.
