The crypto market held its breath against the backdrop of the largest distribution of “helicopter of money”
Japan will donate a new trillion dollars for anti-crisis support.
In April, the country already agreed on the allocation of $ 990 billion.
The decision to allocate a new stimulus package is associated with the deplorable state of the Japanese economy.
International consortium news organizations, developing standards transparency.
Japan to provide unprecedented economic support for the population with an additional trillion dollars in stimulus.
Prime Minister Shinzo Abe doubled down on Japan’s stimulus in a bid to deliver on his bold promise to keep businesses and households afloat with the world’s largest coronavirus response package.
On Wednesday, the country’s cabinet approved a $ 1.1 trillion economic stimulus, Bloomberg reports..
In April, Japan has already approved the first $ 990 stimulation package billion.
On this times the Japanese government intentionally help the business in the form of subsidies for rent in the amount of up to $ 55,700, as well as an increase in subsidies for the payment of forced vacations of employees companies up to $ 140 per day. Yet $ 9.3 million will be allocated for emergency expenses such as supporting companies in serious difficulty.
Japan is far from the only country, which took the path of direct financial stimulation of the population with the help of “helicopter money”.
Formerly the presidential administration USA Donald Trump and Congressmen agreed to allocate $ 2 trillion for stimulating the economy.
It is noteworthy that against the background of stimulating the population to cryptocurrency market recorded capital gains.
The BeInCrypto editorial staff wrote that the regulated American cryptocurrency stock exchange Coinbase noticed growth deposits and activity operations on purchase cryptocurrency in the amount of $ 1200. Exactly such size was allocated to Americans in quality financial support from the aftermath of the coronavirus crisis.
IN Tom same month, thanks to the influx free money, the price of bitcoin skyrocketed by 24% to $ 9422.
IN Of Russia the situation with the support of the population looks different way. Russian Finance Minister Anton Siluanov stated, that direct financial support to the population amid the COVID-19 pandemic will not solve the problems.
In an interview with the Vedomosti newspaper, Siluanov noted that in Russian realities can It was to throw out monetary incentives, if would the country have for of this printing press standby currencies.
“But the task is not to compete who more spend and help themes, who needs support first of all, “he added.
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