Japan PM Abe plans to compile 2 trillion yen stimulus package: Yomiuri

Japanese Prime Minister Shinzo Abe arrives to address the 72nd United Nations General Assembly at U.N. headquarters in New York, U.S., September 20, 2017. REUTERS/Eduardo Munoz

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe plans to compile a new economic stimulus package of around 2 trillion yen ($17.8 billion) by the end of this year, the Yomiuri newspaper reported on Monday.

Abe will instruct cabinet ministers at a gathering of the government’s top economic council on Monday to start work on compiling the package, the paper said without citing sources.

The package will mainly consist of increased spending on child care and education, and cover a period of three years from the fiscal year beginning in April 2018, Yomiuri said.

Abe is expected to announce the plan at a news conference later on Monday, where local media report he will also announce a plan to dissolve parliament for a general election to be held on Oct. 22.

Reporting by Leika Kihara; Editing by Sandra Maler and Eric Meijer