Japan ruling party to propose stimulus package worth 16-17% of GDP, policy chief says

TOKYO (Reuters) - Japan's ruling Liberal Democratic Party will propose a stimulus package totalling 16% to 17% of gross domestic product amid the coronavirus outbreak, its policy chief said on Monday.

Fumio Kishida told reporters that the party would propose a formalised package to the government on Tuesday. He also said it would be difficult to bring a sales tax back to its current level if the government were to cut the nationwide tax.

(Reporting by Daniel Leussink and Tetsushi Kajimoto; Editing by Toby Chopra)