Monday, 25 May 2020 07:21 AM MYT
The move would be the latest effort by Tokyo to support an economy on track for its deepest slump in postwar history, as the pandemic crushes businesses and consumer spending. The second extra budget, worth ¥100 trillion , will include ¥60 trillion for expanding loan programmes that state-affiliated and private financial institutions offer to firms hit by virus, the paper said.
Japan’s economy slipped into recession in the last quarter, and analysts expect another 22 per cent contraction in April-June due to the hit from the health crisis.
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