Prime Minister Shinzo Abe tried Monday to persuade Asia-Pacific business leaders to have confidence in his economic strategy, pledging to concurrently pursue growth and fiscal discipline while its central bank buys up government debt to artificially stoke 2 percent inflation.

Speaking at a business event at the Asia-Pacific Economic Cooperation forum, Abe also called on APEC members to lead the world in developing advanced infrastructure in sectors such as energy and transport, saying Japan is ready to provide know-how to that end.

Referring to his recent decision to raise the sales tax next April for the first time in nearly 20 years, Abe said that was the best option.