Abe plans up to US$90.7bil stimulus

TOKYO: Japan Prime Minister Shinzo Abe plans to propose a fiscal stimulus package of as much as 10 trillion yen (US$90.7bil) after warning Group of Seven leaders that the global economy faces significant risk of another crisis, according to the Nikkei newspaper.

Abe will seek a second supplementary budget worth 5 trillion yen to 10 trillion yen after July’s upper-house election, the Nikkei reported Saturday without attribution. Proposals will include accelerating the construction of a magnetic-levitation train line from Nagoya to Osaka, issuing vouchers to boost consumer spending, increasing pay for child-care workers and setting up a scholarship fund, the Nikkei said.