Japan enacts new stimulus plan by €24 bn

Abe has sought to spur growth and end a long spell of deflation through aggressive monetary easing and increased public spending. He also promised to undertake bold steps to break through the “bedrock” of Japan’s vested interests and bureaucracy, but has made little headway in areas such as labor and farm sector reforms.

After taking office for a third term following a snap election earlier this month, the prime minister faces growing pressure to show that his “Abenomics” strategy for nurturing growth through inflation can succeed. These measures are still on-going.

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