DHAKA: Japan cabinet has approved an economic stimulus package worth more than 28 trillion yen ($275bn).

It is the latest attempt by Prime Minister Shinzo Abe to kick-start the world’s third-largest economy and boost growth, BBC reports on Tuesday (Aug 2).

The package includes 7.5tn yen in new spending for the national and local governments over the next two years.

More than half of that sum has been earmarked for the current fiscal year.

Chief cabinet secretary Yoshihide Suga said the stimulus package would be included in a supplementary budget, which will be considered by an extraordinary session of parliament starting in September.

BDST: 2158 HRS, AUG 02, 2016
SAS/RR