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Abe Plans $61 Billion Infrastructure Spending for Japan Revival

  • Country aims to double overseas visitors to 40 million by 2020
  • Japan targeting a fourfold jump in overseas cruise passengers
Bloomberg business news

Japan Stimulus: The Details and Disappointments

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Japan will spend 6.2 trillion yen ($61 billion) on infrastructure to help double the number of tourists visiting the country, speed up construction of a magnetic levitation line and aid building projects overseas.

The spending, approved by the cabinet on Tuesday, is part of a 28 trillion yen stimulus package Prime Minister Shinzo Abe flagged in a speech last week to revive the world’s third-biggest economy and speed its exit from deflation. The government will support expansion of ports to accommodate large cruise ships, boost airport capacity in the Tokyo area and regional economies, and strengthen transportation hubs, it said in a plan released Tuesday.