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Japan to extend stimulus on unprecedented scale, says Abe

Christian Fernsby |
Japan will extend economic stimulus on an “unprecedented scale” to rescue the country that’s suffering from the impact of the coronavirus outbreak, Prime Minister Shinzo Abe said.

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Topics: JAPAN    ABE   

There will be cash handouts for citizens and the government will act to protect regional employment, he said in a televised press briefing on Saturday. The actions will be on a larger scale than that of the financial crisis more than a decade ago, according to Abe.

The prime minister said he wants to submit a supplementary budget in about 10 days and it will be passed as soon as possible. He cautioned that the battle against the virus will be a long one. Japan is preparing its virus-related policies with the worst-case scenario in mind, he said.

The administration isn’t considering a state of emergency now, Abe said. The prime minister said Japan will start trials of Fujifilm Holdings Corp.’s Avigan with view to using it as treatment.

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