Tag: stimulus
Written by Gabriel HerveyFebruary 3, 2021
Architect of BOJ’s ‘bazooka’ stimulus calls for fiscal firepower to beat deflation
Business Article
By Leika Kihara, Kentaro Sugiyama TOKYO (Reuters) – With interest rates already ultra-low, Japan must switch to bolder fiscal spending to pull itself out of economic stagnation, said Kikuo Iwata, the central bank’s former deputy governor and architect of its “bazooka” monetary stimulus. FILE PHOTO: Bank of Japan’s (BOJ) Deputy Governor Kikuo Iwata speaks during
Written by Gabriel HerveyApril 7, 2020
Japan declares COVID-19 emergency, prepares nearly US$1 trillion stimulus
News Business Article
TOKYO: Japanese Prime Minister Shinzo Abe on Tuesday (Apr 7) declared a state of emergency to fight new COVID-19 infections in major population centres and unveiled a stimulus package he described as among the world’s biggest to soften the economic blow. Abe announced the state of emergency targeting the capital Tokyo and six other prefectures – accounting
Written by Gabriel HerveyApril 3, 2020
Indonesia’s economic stimulus not enough to stop layoffs, focus should be to contain COVID-19: Experts
News Business Article
JAKARTA: Indonesia’s US$24.2 billion healthcare budget and economic stimulus package may not be enough to weather the impact of COVID-19 and prevent millions from losing their jobs, analysts warned on Thursday (Apr 2). They also told CNA that it is more important for the government to focus on containing the pandemic. Advertisement Advertisement President Joko
Written by Gabriel HerveyMarch 30, 2020
Singapore ready to deploy third stimulus package if COVID-19 outbreak worsens: DPM Heng
News Business Article
SINGAPORE: The Government is ready to deploy a third stimulus package if the COVID-19 outbreak in Singapore deteriorates, Deputy Prime Minister Heng Swee Keat said on Monday (Mar 30). “If the situation continues to worsen, we’ll be prepared to have a third package,” he said. “I would like to reassure Singaporeans that we have the
Written by Gabriel HerveyMarch 28, 2020
Japan’s Abe vows unprecedented stimulus as Tokyo COVID-19 cases rise
News Business Article
TOKYO: Japan’s Prime Minister Shinzo Abe on Saturday (Mar 28) promised an unprecedented package of steps to cushion the world’s third-biggest economy from the coronavirus pandemic, saying the country was close to a national emergency as infections surged. Abe said the “huge, powerful” measures will include fiscal stimulus, monetary steps and tax breaks for companies,
Written by Gabriel HerveyMarch 27, 2020
Malaysia unveils RM250 billion economic stimulus package as COVID-19 cases surge
News Business Article
KUALA LUMPUR: Malaysia has announced an economic stimulus package worth RM250 billion (US$58 billion) on Friday (Mar 27) to weather the impact of COVID-19. Prime Minister Muhyiddin Yassin said in a televised address that the stimulus package comprises special allowances for healthcare providers, one-off cash aid and microcredit scheme for small- and medium-size enterprises, among others. Advertisement Advertisement
Written by Gabriel HerveyMarch 27, 2020
Singapore’s ‘bazooka’ stimulus to cushion COVID-19 pain, but recession still on the cards: Economists
News Business Article
SINGAPORE: With bigger wage offsets, property tax rebates of up to 100 per cent and more help for badly-hit sectors, Singapore’s newly announced fiscal “bazooka” will help to alleviate the strain that businesses and households are feeling from the COVID-19 outbreak, said economists. But it will not be able to prevent a recession in Singapore,
Written by Gabriel HerveyMarch 13, 2020
Indonesia to support economy with US$8 billion stimulus to counter COVID-19 impact
News Business Article
JAKARTA: Indonesia announced a 120 trillion rupiah (US$8.1 billion) stimulus package on Friday (Mar 13) to support Southeast Asia’s biggest economy as the spread of the coronavirus disrupts global activity. The stimulus, representing 0.8 per cent of gross domestic product (GDP), includes exempting some workers in manufacturing from income tax and giving manufacturing companies a discount
Written by Gabriel HerveyMarch 12, 2020
Second stimulus package in the works as global economy, COVID-19 situation worsens: DPM Heng
News Business Article
SINGAPORE: The Government has started working on a second stimulus package about 10 days ago as both the global economy and COVID-19 outbreak have worsened since the first package was announced three weeks ago, said Deputy Prime Minister Heng Swee Keat on Wednesday (Mar 11). During the Budget statement on Feb 18, Mr Heng had unveiled
Written by Gabriel HerveyMarch 6, 2020
Thailand outlines US$3.2 billion stimulus to alleviate COVID-19 impact
News Business Article
BANGKOK: Thailand on Friday (Mar 6) outlined a stimulus package, estimated to be worth more than US$3.2 billion, to mitigate the impact of the coronavirus outbreak on activity in an already-flagging economy. Southeast Asia’s second-largest economy is growing at its weakest pace in years due to soft exports and investment. The epidemic continues to hit
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Commentary: Malaysia’s latest stimulus package provides huge relief but is only enough until May
SINGAPORE: Malaysians have lived in extreme uncertainty and fear since the country came under a type of lockdown beginning Mar 18, when the Movement Control Order came into effect. These restrictions were slapped to slow the spread of the COVID-19 outbreak. As at Mar 31, Malaysia has seen 2,766 infections and 43 deaths. With