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PM Abe announces “boldest ever” economic stimulus package

All Sunday papers gave front-page play to Prime Minister Abe’s announcement on Saturday that the GOJ will compile its “boldest ever” economic stimulus package, including cash allowances for households and small businesses, in response to the negative economic impact of the coronavirus outbreak. Nikkei wrote that the stimulus package will account for more than 10% of nominal GDP, more than the 2009 emergency package following the collapse of Lehman Brothers that totaled 56.8 trillion yen, or $526 billion. The paper quoted the premier as saying: “We will compile the package within 10 days and swiftly submit it to the Diet.” Asahi wrote that the premier hinted at the possibility of reconsidering his plan not to ask schools to stay closed by saying he will convene a government panel of experts this week to hear their views on the subject.

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