Japan cabinet approves use of $4.6 billion of reserves to support pandemic-hit businesses

FILE PHOTO: A couple wearing protective face masks make their way at Shibuya crossing, where some of neon signs are turned off after 8 PM, on the first day of the country’s third state of emergency, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan, April 25, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) – Japan’s cabinet said on Friday it would spend 500 billion yen ($4.59 billion) from emergency reserves to support pandemic-hit businesses.

The money will be drawn from 5 trillion yen in coronavirus-related reserve funds that the government has allocated as part of its budget for the current fiscal year.

($1 = 108.8300 yen)

Source: Read Full Article