TOKYO - Japanese Prime Minister Fumio Kishida said Monday he will draw up a stimulus package by mid-November to prop up the coronavirus-hit economy following the ruling coalition's victory in the general election.
The Liberal Democratic Party and its smaller partner Komeito retained a comfortable majority in the House of Representatives, the powerful lower chamber of parliament, on Sunday, suggesting voters opted for stability over the opposition's promises for change.
Despite losing seats and suffering a number of defeats of high-profile candidates, the LDP headed by Kishida performed better than media forecasts and secured enough seats to effectively control all standing committees and steer the legislative process.
Kishida said the stimulus package, featuring financial aid for businesses and people hit hard by the pandemic, will be funded by an extra budget the government aims to pass within the year.
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