Japan approves € 215,000 million to stimulate economic growth
The government approved the first disbursement to support the economic growth of the Asian nation, strengthen the granting of credits and start works after the Tokyo 2020 Olympic and Paralympic Games
The main sectors of the economy of Japan that will receive strong support thanks to the first stimulus package in three years will be economy, infrastructure in the face of natural disasters, exports, public spending, as well as the construction of public works after the celebration of the Olympic and Paralympic Games from Tokyo 2020.
The government of the Asian nation approved a package of 26 billion yen (215,000 million euros) to boost its economic growth and implement some decisions made in advance.
It was learned that half of the package, estimated at 13 million yen / 108,000 million euros, will go to public spending, “including low-interest state loans to strengthen infrastructure, as well as incentives to avoid a sharp drop in spending of public works” after the celebration of the Games of the XXXII Olympiad.
In this regard, Japanese Prime Minister Shinzo Abe stated in his meeting with partners and members of the Cabinet: “We have developed a powerful package of measures to help overcome economic risks.”
An estimated 6 billion yen (equivalent to 50,000 million euros) will be allocated to public works projects that allow optimization of reconstruction after damage caused by typhoons Faxai and Hagibis last September and October.
On the other hand, the government of Japan has also indicated that with this disbursement they seek to provide protection “against the negative effects of the VAT increase that entered into force on October 1st, as well as a potential global economic recession.”
Likewise, with this package they will provide support to exports through government measures that allow increasing sales of agricultural products in view of the entry into force in 2020 of a Japan-United States bilateral agreement.
M.Pino
Source: ABC
