Get ready for Abenomics 3.0.

You’ve got to give credit to Japanese Prime Minister Shinzo Abe. At least he’s going down fighting.

Abenomics, the economic plan devised by Abe to spur the Japanese economy out of its doldrums, hasn’t worked as well as expected. Of course, world events have conspired against it.

Shinzo Abe
Shinzo Abe

In addition to the Japanese natural inclination to save, China’s slowing economy, the malaise in Europe and falling oil prices have impeded Japan’s recovery. Because of all this, prices in Japan didn’t rise in February, pretty much a stick in the eye to the Bank of Japan, which has been aiming to boost inflation to a rate of 2%. Without energy and food costs, inflation rose just 0.8% year over year, according to a statistics bureau report last Friday.

However, Abe is expected to announce on Tuesday a package of new spending measures to boost the economy, the Nikkei Shimbun reported, without saying where it obtained the information. The source may well be a deliberate government leak.

Japan’s 96.7 trillion yen ($1.15 trillion) budget for fiscal 2016 is expected to become law Tuesday, and Abe is expected to provide details of the new measures at a press conference the same day, the newspaper reported.

The new measures are expected to include shopping vouchers, increased pay for nursery school teachers and public works projects, according to the newspaper.

Consumer and business sentiment has fallen along with the Japanese economy, which contracted in two of the last three quarters. According to a Nikkei survey carried out this month, 26% corporate leaders say Japan’s economy has weakened or is showing signs of weakness, up from 6.9% at the end of 2015.

Other measures the government is working include a stimulus package of about 10 trillion yen and whether to proceed with a planned sales tax increase. The feasibility of these will become clearer after first-quarter gross domestic product growth is released May 18, the newspaper said.

Join the Conversation

3429 Comments

  2. Terrific work! That is the kind of information that
    are supposed to be shared across the net. Disgrace on the seek engines for not positioning this submit upper!
    Come on over and seek advice from my web site . Thanks =)

  5. I was just searching for this info for a while. After 6 hours of continuous Googleing, at last I
    got it in your site. I wonder what’s the lack of Google strategy that don’t rank this kind of informative websites in top
    of the list. Normally the top sites are full of
    garbage.

  6. Hi there very nice blog!! Man .. Excellent ..
    Superb .. I will bookmark your website and take the feeds also?
    I am happy to search out numerous useful information right here in the
    post, we want develop extra strategies in this regard, thanks for sharing.
    . . . . .

  9. Experts from broad recommended thrilled, unfaltering marriages as the instance locale in standing of child-rearing. Unfortunately, half of all American marriages tripta.reirea.se/voor-de-gezondheid/zwemdiploma-taart.php persist in to extinguish in interest, and innumerable of these breakups chagrin children. These statistics don’t to hold in the relationships between people who conditions married, but unagitated had kids hoe to the breaking down of their unreal partnership.