Japan must set in motion a new economic stimulus package worth “several tens of trillion yen,” according to a quote by Fumio Kishida, who is running to be PM in the upcoming election.
- Kishida announced on Thursday that he would challenge Prime Minister Yoshihide Suga for the leadership position of the ruling party.
- Ahead of the upcoming election, the PM is struggling with plummeting approval rates.
- The winner is automatically assured of being prime minister because of the Liberal Democratic Party’s supremacy in parliament’s lower house.
Kishida stated the stimulus package would include a boost for all the economy sectors and regions to deal with the COVID-19 pandemic effects.
Nikkei up +0.54%, JPY USD down -0.05%
Source: Reuters
