Japanese government adopts record stimulus package

Japan's government has adopted a record economic stimulus package aimed at supporting people's lives and businesses affected by the coronavirus pandemic.

The package is worth 55.7 trillion yen, or 487 billion dollars. Its key measures include a one-time handout of 100,000 yen, or about 870 dollars, for minors aged 18 or younger. This handout is contingent on parental income, but it will go to the majority of households.

Businesses suffering from a decline in sales will also receive financial support.

The stimulus includes measures to contain a surge in retail prices of gasoline and other oil products in light of high crude oil prices.

The government aims to pass a supplementary budget in an extraordinary Diet session to be convened next month.