Japan poised to pump up sluggish growth with new stimulus


TOKYO (AP) — 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.

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