- ARAB NEWS
- 01 May 2025
Since 1975
TOKYO: Economic and Fiscal Policy Minister Yasutoshi Nishimura said Sunday the new coronavirus epidemic's impact on the Japanese economy may be on par with or greater than the financial crisis following the collapse of US investment bank Lehman Brothers.
Nishimura stressed the need for a large-scale economic stimulus package. "We need to carry out (economic measures) on a scale that matches the impact," he said on television.
He said the government hopes to organize a big campaign for policy measures to stimulate tourism and consumption demand after the epidemic dies down.
On calls from young lawmakers of the ruling Liberal Democratic Party for a reduction in the consumption tax rate, Nishimura said the government will study whether revenues from the proposed tax cut will increase consumer spending.
JIJI Press
