March 28, 2024 19:29 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Delhi High Court rejects PIL seeking removal of Arvind Kejriwal as CM | MHA extends AFSPA in 3 districts of Arunachal Pradesh for 6 months | Encourage fair, transparent and legal process: US comments again on Kejriwal's arrest | India and China discuss border disengagement: EAM | Indian External Affairs Minister S Jaishankar discusses defence, trade while interacting with Malaysian leaders
Japan's Foreign Minister says economy facing worst postwar crisis due to COVID-19 pandemic
Pixabay

Japan's Foreign Minister says economy facing worst postwar crisis due to COVID-19 pandemic

India Blooms News Service | @indiablooms | 20 Apr 2020, 06:13 am

Tokyo/Sputnik/UNI:  Japan’s economy is facing the most serious crisis since World War II due to the coronavirus pandemic, Japanese Foreign Minister Toshimitsu Motegi said on Monday.

According to Kyodo News Agency, Motegi’s comments come hours before Prime Minister Shinzo Abe’s cabinet is set to endorse an unprecedented 117 trillion yen ($1 trillion) stimulus package as an economic rescue plan.

"The impact on the international economy, as well as the Japanese economy, is extremely serious, the global economy is facing the most severe crisis since the war," Motegi said.

The new spending package is a revision to Abe’s initial plan of 108 trillion yen approved earlier this month.

The government's plan includes direct payments to citizens, a bailout of struggling businesses among other measures.

A nationwide state of emergency was declared in Japan last week until at least May 6 as the total number of coronavirus infections has passed the 10,000 mark with over 230 fatalities.  

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.