Japan economic stimulus to exceed $265B, require new debt – Kyodo

The Japanese government is mulling an economic stimulus package worth more than JPY30 trillion ($265 billion) to ease the coronavirus pandemic-induced pain, Reuters reports, citing a story carried by Kyodo news late Sunday.

Additional takeaways

“Such a plan that would require issuing new debt.”

“Part of the spending will come from funds carried over from last year's budget.”

Among items expected to be included in the package was a restart of a domestic tourism promotion campaign and steps to realize a 10 trillion-yen fund for university research, the Sankei newspaper reported on Friday.

Market reaction

USD/JPY is little affected by these headlines, currently trading at 113.56, up 0.15% on the day.