Japan stimulus package to boost GDP most strongly next fiscal year: minister

Tokyo

JAPAN'S latest economic stimulus package to cushion the blow from the novel coronavirus pandemic is likely to boost the economy most strongly next fiscal year, Economy Minister Yasutoshi Nishimura said on Tuesday.

The US$708-billion stimulus package, which was endorsed by the cabinet last week, is expected to boost gross domestic product (GDP) by around 0.5 per cent in the current fiscal year up till March, 2.5 per cent in fiscal 2021, and 0.6 per cent from fiscal 2022 onwards, he told reporters.