Japan fiscal plan gives $ 45 bn spending boost

3.4 trillion yen to help address the nation’s demographic challenges

Japan’s government announced 4.6 trillion yen ($45 billion) in extra spending for the current fiscal year, as Prime Minister Shinzo Abe seeks to bolster the economy without abandoning targets for improving fiscal health.

The spending, approved by the cabinet on Tuesday, is part of what Abe flagged in a speech last week as a 28 trillion yen stimulus package, saying more investment was needed to expand the world’s third-largest economy. He said funds would be used to provide better port facilities for cruise ships and accelerate the construction of a high-speed Maglev train line.