TOKYO — Prime Minister Shinzo Abe called it the largest stimulus package in the world.
The 117.1 trillion yen ($1.09 trillion) second supplementary budget that was approved by the Japanese cabinet on Wednesday, when put together with an earlier supplementary budget, brings total stimulus measures to 230 trillion yen.
“It’s equivalent to 40% of gross domestic product,” Abe said. “With this, we will protect the Japanese economy from this once-in-a century crisis.”
Although the headline number matches the scale of the first stimulus package, it counts in contributions from the private sector, which the government will try to unlock. True