Abenomics 2.0 – PM updates plan to refresh Japanese economy

Shinzo Abe declares new stage for his economic plan with focus on boosting economy and population growth, and improved social security

Japan's prime minister Shinzo Abe, fresh from a bruising battle over unpopular military legislation, has unveiled an updated plan for reviving the world's third-largest economy, setting a GDP target of 600tn yen (3.2tn).

Abe took office in late 2012 promising to end deflation and rev up growth through strong public spending, lavish monetary easing and sweeping reforms to help make the economy more productive and competitive. So far, those "three arrows" of his Abenomics plan have fallen short of their targets, although share prices and corporate profits have soared.

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