World Economy

Japan to Help SMEs

Japan to  Help SMEsJapan to  Help SMEs

Japan is likely to include assistance for small businesses in an economic stimulus package it will compile after Britain’s shock vote to leave the European Union, Economy Minister Nobuteru Ishihara said on Tuesday, CNBC reported. Japanese policymakers also said financial markets are starting to calm down after the Brexit vote last week, but repeated that they want to remain ready to respond to any further sudden jump in the yen, which could jeopardize the struggling economy. Ishihara, did not answer reporters’ questions on the size of the stimulus plan, but sources have told Reuters the government is willing to spend at least 10 trillion yen ($98 billion). “There are concerns about lessening the impact of the British referendum on Japan’s small- and medium-sized companies,” Ishihara said after a meeting of the Council on Economic and Fiscal Policy, the government’s top advisory panel. “Taking steps to provide liquidity to small firms could be a big factor in economic stimulus steps that we compile.”