Japan’s economy entered a recession even before the coronavirus pandemic and could be facing a long road to recovery.
The stimulus aims to limit job losses and bankruptcies and initiates a post-pandemic, V-shaped economic recovery.
The country has struggled with a slump of exports, a sales tax hike in October, and natural disasters.
The Japanese government’s three new economic arrows miss their mark.
Fitch attributed its downgrade in part to “the absence of broadly equivalent fiscal measures" to replace a delayed sales tax increase.
