Japan poised to pump up sluggish growth with new stimulus

FILE - In this June 21, 2016 file photo, Japanese Prime Minister Shinzo Abe speaks during the debate of the political party leaders ahead of the July upper house election in Tokyo. Japan's government and central bank appear to be readying a fresh dose of economic stimulus to help revive stalling growth. (AP Photo/Shizuo Kambayashi, File) (The Associated Press)

Japanese Prime Minister Shinzo Abe delivers a speech in Fukuoka, southern Japan, Wednesday, July 27, 2016. Prime Minister Abe announced plans Wednesday for a fresh barrage of economic stimulus to help revive stalling growth. Abe put the scale of the extra spending at more than 28 trillion yen ($265 billion), the Kyodo News Service and other local media reported. (Iori Sagisawa/Kyodo News via AP) (The Associated Press)

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.