Posted by: youngragingbull | June 5, 2013

Japan’s PM unveils economic plans

Japanese Prime Minister Shinzo Abe on Wednesday unveiled a number of new economic policies to revive Japan’s economy, including plans to allow public pension funds to buy more stocks and creating special economic zones to spur foreign investment, according to reports.

Abe reportedly said his policies would raise average income by 3%, outpacing the 2% inflation Japan hopes to achieve within the coming two years.

Among other measures, Abe said he would seek to triple public-private financing of infrastructure by 2020, and ease building codes to allow new, large apartment blocks in city centers, as well as boost the number of women in the workforce and consolidate small farms, according to various accounts of the policy address.

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