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Japan PM unveils $266 bn stimulus plan to boost economy

The government and central bank have come under increasing pressure to do more for the economy as a string of weak readings and sagging business confidence highlight a long-running weakness in Japan's economyJapan’s government Wednesday announced a stimulus package worth more than 28 trillion yen ($266 billion) in its latest attempt to fire up the lukewarm economy, with the central bank expected to unveil its own measures this week. Policymakers are under pressure to boost growth as Prime Minister Shinzo Abe’s ‘Abenomics’ plan to kickstart the world’s number three economy comes under threat from poor data and sagging business confidence. Abe confirmed the new plan Wednesday but gave few details, except to say about half the total would be fiscal measures including government spending.

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