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The Wall Street Journal: Details of Abe’s $274 billion Japan stimulus package emerge as cabinet gives its OK

TOKYO — Japanese Prime Minister Shinzo Abe’s cabinet approved a 28 trillion yen ($274 billion) stimulus package Tuesday, the latest effort by Abe to jolt the nation’s sluggish economy back to life.

Abe has loosened fiscal policy amid a growing consensus among economists and policy makers that monetary policy alone won’t be able to revive stagnant economies. Abe also chose in June to postpone a planned sales-tax increase for 2 1/2 years.

The Bank of Japan last week only tweaked its monetary stimulus, confirming for many economists that it had reached the limits of its power to fuel growth and inflation.

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