Japan Cabinet OKs stimulus with record 55.7 tril. yen in spending

Japanese Prime Minister Fumio Kishida's Cabinet approved Friday an economic stimulus package with a record 55.7 trillion yen ($490 billion) in fiscal spending to weather the prolonged fallout from the coronavirus pandemic.The package, worth 78.9 trillion yen when funds from the private sector are included, contains some of Kishida's signature policies, such as narrowing the income gap through pay hikes and securing the nation's economic security interests.Through the stimulus measures, Kishida, who took office last month and led the Liberal Democratic Party to victory in the Oct. 31 general…READ FULL ARTICLE