Abe - global economy faces big risks, Japan to press on with 'Abenomics'

ISE-SHIMA, Japan (Reuters) - Leaders from the Group of Seven industrial powers agreed on Thursday the global economy is facing big risks, and host Japan will push ahead with its growth agenda, said Japanese Prime Minister Shinzo Abe.

"Based on these Ise-Shima economic initiatives, we are going to have the G7 promote the Abenomics' three-arrow policy" of bold monetary policy, flexible fiscal spending and structural reforms, Abe told reporters on the sidelines of the first day of a two-day summit in Ise-Shima, central Japan.

The global economy is high on the summit agenda, along with such issues as terrorism, maritime security and cyber security.

(Reporting by Tetsushi Kajimoto; Editing by William Mallard)