Ruling party asks for 60 tril. yen stimulus to aid virus-hit economy

The ruling Liberal Democratic Party called Monday for a 60 trillion yen ($556 billion) stimulus package to help households and small businesses survive the fallout from the new coronavirus outbreak after Prime Minister Shinzo Abe warned of a prolonged battle.Abe has pledged to compile the "boldest-ever" package that would exceed the 56.8 trillion yen stimulus at the time of the 2008 global financial crisis. His administration plans to finalize the details by early April and secure funding in an extra budget for fiscal 2020.The LDP is proposing that fiscal spending should be around 20 trilli…READ FULL ARTICLE