Japan expected to deliver at least $180 billion in new stimulus – Bloomberg

Early Wednesday morning in Asia, Bloomberg came out with survey details suggesting Japanese Prime Minister Yoshihide Suga is likely to unveil another economic stimulus package worth at least $180 billion within the next few months.

The median forecast of 18 surveyed economists indicates a package of between 20 trillion yen and 30 trillion yen before national elections that must be held by early fall, per Bloomberg.

Additional findings (from Bloomberg)…

Japan’s economy is seen as having barely eked out growth last quarter amid stop-and-go restrictions to contain outbreaks. But with the country’s vaccine drive now gaining pace, most analysts see the government focusing its new spending on post-Covid growth measures, rather than more virus-fighting.

The new spending would follow three extra budgets already drawn up during the pandemic that added about 70 trillion yen to Japan’s debt pile.

Read: USD/JPY drops toward 110.50 on plunging US Treasury bond yields