Prime Minister Shinzo Abe will convene an advisory panel to consider an extra budget for the coming fiscal year, sources said days after the Group of 20 nations urged more fiscal spending to support the ailing global economy.
Abe announced the plan Tuesday, saying the panel would help him prepare for hosting the Group of Seven summit in May where the fragile state of global growth is sure to top the agenda.
"We need to do more to ensure stable growth for the world economy," Abe told reporters. "I want to hear the frank views of experts and well-known economists from both inside and outside Japan. We need to debate how G-7 countries can cooperate."
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