Last Tuesday, Japan's cabinet declared a state of emergency for one month in seven areas and approved an economic package of 108 trillion yen ($ 988.83 billion) to deal with the adverse effects of the coronavirus pandemic.

The package includes tax expenditures of 39.5 trillion yen and transfers of 300,000 yen to families that have suffered severe loss and income due to the coronavirus. In addition, the Japanese government plans to offer up to 2 million yen to small businesses affected by the pandemic and to ease part of the taxes paid by firms in that segment.