Japanese Prime Minister Yoshihide Suga announces a stimulus plan of more than $700 billion

According to Bloomberg, Japanese Prime Minister Yoshihide Suga announced some details of his first stimulus plan after taking office on the 8th.

According to Reuters, the Japanese government will prepare a new economic stimulus plan totaling 73.6 trillion yen ($708 billion), including 40 trillion yen ($385 billion) of fiscal measures to revitalize the economy hit by the coronavirus epidemic.

“In order to protect people’s lives and livelihoods, we have prepared this plan to ensure jobs and businesses survive, restore the economy, and provide new opportunities for developments such as green and digital zones,” Yoshihide Suga said at the Prime Minister’s residence.