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Original Title: Total Scale Exceeds US $ 700 Billion! Japanese Prime Minister Yoshihide Suga Announces New Economic Stimulus Plan
Japanese Prime Minister Yoshihide Suga said on Tuesday that the Japanese government would prepare a new economic stimulus plan of 73.6 trillion yen ($ 708 billion), including 40 trillion yen ($ 385 billion) of fiscal measures. . Revitalize the economy hit by the new corona epidemic.
Yoshihide Suga told a meeting attended by government officials and the ruling party that these economic measures “will make a breakthrough in new economic growth.” Yoshihide Suga’s cabinet will sign the economic plan later on Tuesday.
This figure matches that of the final draft of the stimulus plan obtained by foreign media on Monday. Suga Yoshihide said at the Prime Minister’s residence: “In order to protect people’s lives and livelihoods, we have formulated this plan to ensure employment and business survival, restore the economy and provide new opportunities for development. of green and digital areas “.
He added that the plan also includes support for medical facilities and housing for the elderly, as well as measures to support employment and business cash flow.
Revised data released Tuesday morning showed that Japan’s economy recovered faster than initially estimated in the third quarter. Japan’s GDP in the third quarter grew at an annual rate of 22.9%, which is estimated at 21.4%.
However, the record number of new cases in the country in recent weeks may cool consumer spending. If local cities continue to adopt voluntary restrictions on travel and activities, the impact on spending may increase.
Yoshihide Suga faces the challenge of proving that he has the ability to maintain the momentum of economic development while keeping the epidemic in check until he receives a vaccine. Otherwise, he may become one of Japan’s many “short-lived” prime ministers who have not been in power for more than a year due to insufficient party support.
According to a report by Japan’s Kyodo News Agency on Monday, the results of a national telephone poll of public opinion conducted by Kyodo News on December 5-6 showed that Yoshihide Suga’s cabinet approval rating was 50.3. %, a 12.7 percentage point drop from the previous November survey. . According to the analysis, anxiety about the spread of the new corona epidemic has partially affected the public’s confidence in the government.
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