To counter the economic crisis caused by the global coronavirus pandemic, Japan adopted on Tuesday its largest-ever emergency economic package worth ¥108 trillion, equivalent to about 20 percent of its gross domestic product.
But some economists are skeptical about the package, saying it likely will not be effective enough in dealing with what Prime Minister Shinzo Abe called the "biggest crisis" the Japanese economy has faced since World War II, and additional fiscal spending will most likely be needed in what could turn out to be a protracted battle against the pandemic.
The stimulus, with ¥39.5 trillion in direct fiscal spending, includes emergency measures worth ¥2.1 trillion already announced after the virus outbreak, and a set of programs worth ¥19.8 trillion, compiled in December, aimed at mitigating the economic impact of last year's consumption tax hike.