Japan’s Abe says ready to top up fiscal spending if virus hits economy

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Tuesday the government was ready to deploy further fiscal stimulus measures depending on the damage the coronavirus outbreak inflicts on the economy.

“We’ve already compiled a spending package to forestall various risks” funded by a supplementary budget for the current fiscal year ending in March and next fiscal year’s budget, Abe said.

“We’ll scrutinize the impact of the coronavirus on the global and Japanese economies. If further steps are deemed necessary, we will take action without hesitation,” he added.

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