Japan is bracing for its worst postwar economic slump even as first-quarter GDP contracted less than initially thought, Reuters reported.

The coronavirus crisis has slammed the brakes on global growth and raised pressure on Tokyo to cushion the blow to business and consumers. While US and European policymakers have shifted from crisis-response to efforts to prop up growth, Japan is struggling to do so as it continues to focus on preventing a second wave of infection.

In an interview with Reuters, economy minister Yasutoshi Nishimura said Japan should primarily focus on back-stopping faltering businesses, suggesting the central bank should avoid pushing interest rates deeper into negative territory.