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Japan approves fresh $1.1 trillion stimulus to combat pandemic pain
By , TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe’s cabinet approved on Wednesday a new $1.1 trillion stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world’s third-largest economy deeper into recession.The record stimulus of 117 trillion yen, which will be funded partly by a second extra budget, followed another 117 trillion yen package rolled out last month.The new package takes Japan’s total spending to combat the virus fallout to 234 trillion yen ($2.18 trillion), or about 40% of gross domestic product.The combined spending...…By , TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe’s cabinet approved on Wednesday a new $1.1 trillion stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world’s third-largest economy deeper into recession.The record stimulus of 117 trillion yen, which will be funded partly by a second extra budget, followed another 117 trillion yen package rolled out last month.The new package takes Japan’s total spending to combat the virus fallout to 234 trillion yen ($2.18 trillion), or about 40% of gross domestic product.The combined spending...WW…
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