JAPAN TO UNVEIL HUGE $266BN ECONOMIC STIMULUS, SAY REPORTS

JAPAN-TO

According to the Guardian newspaper, Japan is planning to launch a massive economic stimulus package worth more than 28 trillion yen (US$266 billion), according to media reports.

Prime Minister Shinzo Abe announced the programme in a speech in south-western Japan, giving few details except to say it would include about 13 trillion yen in fiscal measures including government spending, according to Jiji Press news agency.

The newspaper added that more highlights of the package are expected next week when the cabinet is due to approve the measures.
But it is believed Abe will propose improved wages for childcare and elder care workers, the introduction of needs-based scholarships for college students and reduced employment time required to earn pensions.

There would also be money for infrastructure, such as expanding ports to accommodate larger ships and accelerating a decades-long high-speed maglev train project.

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