Prime Minister Shinzo Abe on Tuesday rolled out a package worth 108.2 trillion yen , or 20% the size of the economy, vowing to take"all steps" to combat deepening fallout from the virus pandemic.
The package included 20 trillion yen of stimulus steps already put in place last December, which helped inflate the headline figure. All the maturities, except for 40-year bonds, inflation-linked bonds and liquidity enhancement auctions, will increase. The government will issue the same amount of extra bonds to fund the extra budget, the largest amount on record, with construction bond issuance at 2.3290 trillion yen and deficit-covering bonds at 14.4767 trillion yen.The number of coronavirus infections exceeds 1.32 million globally, with 74,087 deaths.
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