TOKYO – Japan's government and central bank appear to be readying a fresh dose of economic stimulus to help revive stalling growth.
Shares in Tokyo jumped Wednesday after the Fuji TV network reported Prime Minister Shinzo Abe planned to introduce a new economic stimulus package amounting to about 27 trillion yen ($254 billion).
Reports said Abe will propose improved wages for childcare and elder care workers, introduction of needs-based scholarships for college students and reduced employment time required to earn pensions.
Other measures include expanding ports to accommodate ultra-large ships and accelerating a decades-long high-speed maglev train project.
Campaigning for a parliamentary election held earlier this month, Abe promised fresh help for the economy.
Economists say the Bank of Japan will likely expand monetary stimulus at a policy meeting that begins Thursday.