Japan to spend 700 bln yen of reserve funds on coronavirus response

Japan's government plans to spend more than 700 billion yen ($6.59 billion) in reserve funds to help counter the coronavirus, Jiji news agency reported on Friday.

Hiroshi Moriyama of the ruling Liberal Democratic Party said the spending plan is based on expected vaccine purchases from pharmaceutical companies, according to the report.

Budget committees in parliament will hear details of the spending plan on Tuesday, Jiji said. ($1 = 106.1800 yen)