Japan’s PM Abe announces a JPY 2 trln economic stimulus package by year-end

Japanese PM Shinzo Abe is out on the wires now, via Reuters, announcing a JPY 2 trillion economic stimulus package and details on the same.

Key Points:

Orders package by year-end

Will make use of revenues from sales tax increase scheduled for oct 2019

Economy minister Motegi to be in charge of package

3 years to 2020 will be period of intense investment

Package to focus on subsidising education, child care costs and encouraging corp investments

Pre-school education will be made free across the board

Need to reach conclusion on funding stimulus package while maintaining fiscal discipline

Also read: Japan’s PM Abe to hold news conference at 0900 GMT - RTRS