The Prime Minister of Japan traced a record $490 billion stimulus package consisting of several cash handouts in order to aid the economy which was worsened by the COVID-19 pandemic.
Fumio Kishida, Japan’s PM, said the package hopefully consists of enough money and content to restore a sense of security and hope for for all the citizens. However, Kishida’s proposal still needs Parliamentary approval. Adding to this, he has promised fast action and the country’s parliament is expected to interfere next month. However, some critics predict that these measures might prove to be ineffective in long-term growth.