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Japan's cabinet approves US$ 122 bil. fiscal package in bid to boost economy Updated: 2019-12-06 16:24:10 KST

Japan's Cabinet has approved a 122 billion U.S. dollar fiscal package as policymakers look to sustain economic activity beyond the 2020 Tokyo Olympics.
According to Reuters, the package, agreed on Thursday, will almost double when private-sector and other spending are included.
Prime Minister Shinzo Abe said the package is designed to protect against downside economic risks and prepare Japan for the post-Olympics period.
Watchers say Abe's latest plan aims to minimize the risk of a recession that would tarnish his so-called 'Abe-nomics' growth program.
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