From wagyu beef to melons, Japan’s $2.2 trillion virus rescue piques struggling firms - News Daily

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Wednesday, June 3, 2020

From wagyu beef to melons, Japan’s $2.2 trillion virus rescue piques struggling firms

By Tetsushi Kajimoto TOKYO (Reuters) - As the coronavirus jolts Japan, the government's huge stimulus package has come under fire from hard-hit restaurant owners for channelling funds for items like wagyu beef, melons and tourism rather than accelerating help for firms with burning cash needs. The restaurant industry's struggles highlight a larger problem in Japan's revival plan, which at $2.2 trillion (1.75 trillion pounds) is the size of Italy's economy but is still falling short of sufficient support to an important segment - small businesses which employ 70% of the nation's workforce. That puts at risk Japan's recovery from the worst postwar recession it is now facing.

The post From wagyu beef to melons, Japan’s $2.2 trillion virus rescue piques struggling firms appeared first on Firstpost.



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