Japan's stimulus to boost real GDP by 4.4 percent: Economy minister

Japan's new economic stimulus package in response to the coronavirus pandemic is estimated to boost real gross domestic product by about 4.4 percent, Economy Minister Yasutoshi Nishimura said on Friday.

Nishimura also said the government would hold a meeting of experts to decide whether to extend the country's state of emergency beyond May 6. He did not say when the meeting would be held.

Japan has boosted its new economic stimulus package to a record 1.1 trillion U.S. dollars to expand cash payouts to its citizens, as the fallout from the coronavirus pandemic threatens to push the world's third-largest economy deeper into recession.

(Cover image: Japan's Economy Minister Yasutoshi Nishimura attends a news conference at Prime Minister Shinzo Abe's official residence in Tokyo, Japan September 11, 2019. /Reuters)

Source(s): Reuters