The central government on Tuesday approved its largest economic relief package ever, aiming to alleviate the economic pains inflicted by the coronavirus pandemic and reinforce the safety net for struggling companies and households.
Given that COVID-19 is crippling business activities and threatening employment, experts say the overall concept of the rescue package worth ¥108 trillion is on target, as the amount of the stimulus is equal to about 20 percent of the country’s gross domestic product and it highlights defensive moves.
The experts, however, are split on one of the key policies designed to help beleaguered households by providing them with ¥300,000 each. Some economists say the financial aid should be focused on those in serious need while others say the proposed measure appears to be lacking fairness and speed.