Japan PM Abe announces $17.8 billion economic stimulus package

Japanese Prime Minister Shinzo Abe on Monday ordered his cabinet to compile new economic stimulus measures in a package worth around 2 trillion yen ($17.80 billion) by the end of the year.

Speaking at a meeting with his top advisory panel, Abe said the package should focus on subsidizing education, child-care costs, and on boosting corporate investments to improve productivity.

Abe is expected to announce a snap election later on Monday to take advantage of improved ratings and disorganized opposition parties, and the stimulus package could be a way to lure voters during the election campaign.

(REUTERS)