Japan: Abe’s government approves new stimulus package

Abe's cabinet approved a new package of fiscal stimulus measures by 28 thousand billion yen, approximately 244.5 billion euro.

The goals of the operation are the revival of GDP to 1.4%, new measures to protect children, financial subsidies to 22 million low-income people, loans 10,700 billion yen for investment in infrastructure and 7 billion and a half for the direct fiscal spending for the national and local governments.

"Today we have identified a major economic package aimed at making the investments for the future. With this package, not only it stimulates demand, but is also achieved sustainable economic growth led by private demand", Prime Minister Abe told reportes while announcing the package of measures arrived three years of his "abenomics", a mix of extremely accommodating monetary policy, flexible spending and structural reform promises.

The new package of fiscal and economic measures comes a few days after the announcement by the Bank of Japan of the need to revise its monetary stimulus program.