Japan considers spending over RM2.2 trillion on stimulus package

Prime Minister Shinzo Abe is set on delivering the stimulus package, which includes cash payouts to households and non-direct spending measures such as credit lines and guarantees, in April. Source (pic): Nikkei Asian Review

جيڤون ڤرتيمبڠ بلنجا لبيه رم2.2 تريليون باڬي ڤاكيج راڠسڠن

#TTFCovid19: The Japanese government is considering spending over RM2.2 trillion on a stimulus package worth 10 per cent of the country’s economic output.

On Friday, Japanese lawmakers passed the much debated JPY102.7 trillion (RM4.096 trillion) fiscal budged for 2020 in an effort to mitigate the impact of the Coronavirus pandemic on its economy.

Meanwhile, in Malaysia, Prime Minister Tan Sri Muhyiddin Yassin announced a quarter trillion ringgit stimulus package, broken into two distinct categoris, one to protect the welfare of the people, and the other, to support small and medium enterprises.

Yesterday, the Malaysian Ringgit extended its gains against the US dollar opening amid government efforts to cushion the economic impact of Covid-19.


PETALING JAYA: The Japanese government is considering spending over RM2.2 trillion on a stimulus package worth 10 per cent of the country’s economic output.

On Friday, Japanese lawmakers passed the much debated JPY102.7 trillion (RM4.096 trillion) fiscal budged for 2020 in an effort to mitigate the impact of the Coronavirus pandemic on its economy.




The news injected confidence into the stock market which closed the day 4 per cent higher at 19,389.50.

With the budget passed, Prime Minister Shinzo Abe is set on delivering the stimulus package, which includes cash payouts to households and non-direct spending measures such as credit lines and guarantees, in April.

According to Reuters, the package worth exceeds the amount Japan spent to battle the 2009 financial crisis.

Meanwhile, in Malaysia, Prime Minister Tan Sri Muhyiddin Yassin announced a quarter trillion ringgit stimulus package, broken into two distinct categoris, one to protect the welfare of the people, and the other, to support small and medium enterprises.

The Malaysian government had on Monday announced a RM600mil allocation for the Health Ministry to purchase equipment and hire contract staff.

It also allowed Employees Provident Fund contributors aged below 55 to withdraw RM500 for up to 12 months.

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Yesterday, the Malaysian Ringgit extended its gains against the US dollar opening amid government efforts to cushion the economic impact of Covid-19.

AxiCorp global chief market strategist Stephen Innes said the improved sentiment was probably due to investors approving Malaysia’s movement control measures.

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