Japan gov't to spend record $488 bil. on economic stimulus

Japan will spend a record 55.7 trillion yen ($488 billion) on an economic stimulus package aimed at easing the impact from the coronavirus pandemic, government sources said Thursday.The package, including policy measures funded by the private sector such as emergency bank lending to struggling businesses, will be worth 78.9 trillion yen, the sources said. The Cabinet of Prime Minister Fumio Kishida will approve the package on Friday.Expanded from an earlier plan of around 30 trillion yen, the fiscal spending, also including government "zaito" investment and loan programs as well as local go…READ FULL ARTICLE