The Prime Minister of Japan, Shinzo Abe, asserted that Japan will prevail against the COVID-19. (Image via World Finance)

Abe: Government is ready to battle COVID-19

Alfonsus Adi Putra
Politics & Economic
News Flash Japan
Feb 29, 2020
2794
Finally coming up to the challenge, Japan’s Prime Minister, Shinzo Abe, pledged on Friday to take necessary steps to contain the novel coronavirus (COVID-19) from breaking out further in Japan and hurting its economy.

The Prime Minister said that the Japanese government had allocated sufficient reserves for emergency spending, especially for pandemic outbreaks. Therefore, no immediate need to compile a new spending package. Speaking to the parliament, Abe said that COVID-19 will inflict huge damages to Japan’s economy and its development must be monitored meticulously.

Due to the outbreak, Japan’s economy shrank at its fastest pace in six years since December 2019, as the global demand fell and sales tax hike hurt consumption and business spending. Moreover, the virus disrupted supply chains, canceled events, and rendered shoppers unable to go outside.

The economy analysts predicted that it would not be impossible for Japan’s economy to shrink further and slip into recession if the government did not do anything.

Japan’s Economy Minister, Yasutoshi Nishimura, said on Friday that the economy is, indeed, in a “pretty tough” condition due to the cancelation of various events. However, Nishimura pointed out that the handling of the virus sits on the top priority.

Source: https://bit.ly/2Tpik7l

Politics , Economy , Finance , Medical , Health , Disease , Outbreak , Pulmonary , Pneumonia , Coronavirus , COVID-19 , Asia , Japan , Shinzo-Abe