Japan plans to distribute $880 (100,000 yen) to the population of children who are 18 years or younger.
According to the government, the initiative which is part of an economic stimulus plan aimed at blunting the impact of the COVID-19 pandemic, kick off at the end of the month.
The Yomiuri newspaper in Japan reported today on the 5th of November that the government will use the reserves in state coffers to fund this plan.
Also, the government added that the plan will not lead to a huge issuance of government debt. And every household in Japan will receive 100,000 yen per child around spring 2022.
In addition to this, Japan’s new Prime Minister, Fumio Kishida is considering adding low-income households and temporary workers to this stimulus package.
Masato koike, senior economist at the Dai- ichi life research institute stated that the plans is to help those in need of money as they survive this difficult time. Although some are skeptical about how this plan will affect the economy.
