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

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


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Economy4 hours ago (Apr 29, 2021 10:10PM ET)

Japan cabinet approves use of $4.6 billion of reserves to support pandemic-hit businesses
© Reuters. The first day of Japan’s third state of emergency in Tokyo

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)

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