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Japan News: Stimulus Package ¥26 Trillion Gets Green Light

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The economy here in Japan has slowed somewhat but Minister Shinzo Abe and his Cabinet have announced an economic stimulus package totaling 26 trillion yen or about $239 billion dollars. Of course the global slowdown is partly triggered by the US-China Trade War that is expected to last until the 2020 US election or longer. The package will not be effective enough to boost personal spending as the tax increase of 2 percent from 8 to 10 percent in consumption taxes is weighing on the economy. This tax hike is said to take off 0.4% from economic growth so the stimulus package is necessary.

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