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Japan PM Abe announces $17.8 billion economic stimulus package

Posters of Japanese Prime Minister Shinzo Abe seen during the election campaign for the Tokyo Metropolitan Assembly on July 1, 2017 in Tokyo, Japan.
Richard Atrero de Guzman | NurPhoto | Getty Images
Posters of Japanese Prime Minister Shinzo Abe seen during the election campaign for the Tokyo Metropolitan Assembly on July 1, 2017 in Tokyo, Japan.

Japanese Prime Minister Shinzo Abe on Monday ordered his cabinet to compile new economic stimulus measures in a package worth around 2 trillion yen ($17.80 billion) by the end of the year.

Speaking at a meeting with his top advisory panel, Abe said the package should focus on subsidising education, child-care costs, and on boosting corporate investments to improve productivity.

Abe is expected to announce a snap election later on Monday to take advantage of improved ratings and disorganized opposition parties, and the stimulus package could be a way to lure voters during the election campaign.