Japan stimulus package will likely boost GDP by around 3.6%, Suga says

FILE PHOTO: Japanese Prime Minister Yoshihide Suga speaks during a news conference in Tokyo, Japan December 4, 2020. Hiro Komae/Pool via REUTERS

TOKYO (Reuters) - Japan’s latest economic stimulus package to help the country recover from its coronavirus-driven slump will likely boost gross domestic product by around 3.6%, Prime Minister Yoshihide Suga said on Tuesday.

Suga’s cabinet on Tuesday endorsed the $708 billion stimulus package, which will include about 40 trillion yen ($384.47 billion) in direct fiscal spending and initiatives targeted at reducing carbon emissions and boosting adoption of digital technology.

Reporting by Leika Kihara, writing by Daniel Leussink, editing by Andrew Heavens