Japan must maintain an appropriate “policy mix” by adopting strong fiscal spending to go with the Bank of Japan’s powerful monetary easing to protect the economy and jobs from the coronavirus fallout, the ruling Liberal Democratic Party said, Trend reports with reference to Reuters.
The proposals, issued by the party’s key policy council, provide the basis for stimulus measures to be funded by a second supplementary budget draft to be compiled on May 27.
The council made no mention of the size of the second extra budget although several lawmakers called for 100 trillion yen ($929.28 billion) worth of measures.