The government of Japan approved on Friday (19) a package of US$ 490 billion to support recovery from the shock of the pandemic. The initiative includes cash payments to most families in the country and also to some smaller companies.
The package size was nearly double what analysts expected earlier this month and is equivalent to about a tenth of Japan’s Gross Domestic Product (GDP).
The Japanese initiative also marks a contrast with the United States, where concerns about government spending and the potential excessive heating of the economy have recently gained ground.
The size of US President Joe Biden’s education, health and climate spending package has been slashed to about $2 trillion after criticism of rising debt, and it includes higher taxes, including for big business headquartered in the United States.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
