Japan lifts lockdown, declares $930 bn stimulus package

Tokyo, May 26:

Japanese Prime Minister Shinzo Abe lifted a coronavirus state of emergency in Tokyo and four other remaining areas yesyerday, ending the restrictions nationwide as businesses begin to reopen.

Abe also unveiled a plan for a new stimulus package to support businesses hit by the pandemic. Japan, with about 16,600 confirmed coronavirus cases and about 850 deaths, has so far avoided a large outbreak like those experienced in the US and Europe despite its softer restrictions.

Abe said his government will compile a fresh stimulus package worth about $930 bn to provide financial support for companies hit by the coronavirus pandemic.

Abe said a Cabinet approval of funding for the additional stimulus package is expected soon, and the package would bring the amount of spending to more than $1.9 trillion, he said.

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