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The Japanese government is expected to roll out more cash for the Japanese residents amid COVID-19 outbreak. (Image via Inforexnews)

Pay or not, Abe under pressure to roll out more cash

Alfonsus Adi Putra
Politics & Economic
Economic
Apr 16, 2020
1819
Japan’s Prime Minister, Shinzo Abe, is considering to take more efforts to alleviate Japan’s economy due to the outbreak of the novel coronavirus disease (COVID-19) on the nation. Abe is taking pressure from his political partners to roll out more cash for the Japanese citizens whose economy is stricken by COVID-19.

Previously, the Japanese government rolled a nearly US$1 trillion stimulus package. That includes ¥300,000 cash payout, for households afflicted by the COVID-19. However, Abe’s political partners stated that the payout should cover all Japanese residents.

Komeito party, a political partner of the Japanese government, urged Abe to at least give ¥100,000 for every Japanese citizen. Natsuo Yamaguchi, the head of Komeito, stated that by doing such, Abe will show strong solidarity to the public. Therefore, the act should be done as soon as possible.

Yamaguchi was not the first to make the call. The top member of the Liberal Democratic Party, Toshihiro Nikai, said the similar thing as Yamaguchi, the Japanese government should roll out a second supplementary budget of ¥100,000 for every citizen.

The Japanese government argued that the cash payout for the low-income households hit by COVID-19 would be a more effective use of taxpayers’ money. Thus, Abe’s administration hopes to pass an extra budget of ¥16.8 trillion as a stimulus package.

Japan’s Economy Minister, Yasutoshi Nishimura, said that the government is ready to roll out more cash as soon as there is more clarity on how far the damage of the COVID-19 has inflicted on the Japanese companies and households.

Currently, Japan has seen 8,191 COVID-19 cases per Wednesday. From the number, 162 deaths. The pandemic hit the economy hard as it had been facing a recession before it even started.

Source: https://bit.ly/2RGABx2

Economy , Politics , Stimulus , Finance , Medical , Income , Business , Household , Asia , Japan , COVID-19 , Shinzo-Abe
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