The number of coronavirus cases in Japan rose to 5,548 on Thursday, with 108 deaths
Abe said the "huge, powerful" measures will include fiscal stimulus, monetary steps and tax breaks for companies, though the details have not been finalized.
The market volatility and the widening hit to the economy from the coronavirus epidemic are adding pressure on the BOJ to ramp up stimulus at its March 18-19 policy meeting
Japan more than 1,000 cases of the virus including about 700 from a cruise ship quarantined near Tokyo last month
Abe's remarks came a day after Bank of Japan Governor Haruhiko Kuroda signalled the central bank's readiness to stabilise markets if necessary
Abe had already come under fire for his handling of the coronavirus, and Saturday's news conference was his first since the outbreak
Japan has so far seen four deaths related to the virus, among nearly 200 known infections
The two leaders also discussed North Korea and the denuclearisation of the Korean peninsula
Guwahati, the planned venue for a summit between Abe and Indian Prime Minister Narendra Modi, has been engulfed in violent protests over a controversial citizenship law
Bilateral trade between the two countries rose to $17.63 billion in 2018/19 from $10.9 billion in 2008/09. The trade balance widened to $7.9 billion in favour of Japan
The 13.2 trillion yen ($121.50 billion) package is expected to push up gross domestic product by 1.4% through fiscal 2021
The 65-year-old is also the second-longest-serving leader of the Group of Seven major economies behind only German Chancellor Angela Merkel, who has been in office since 2005.
Japanese Trade Minister Hiroshi Kajiyama said Tuesday that Tokyo would work toward a deal including India
It was Trump's threat of punitive tariffs on Japanese auto exports that spooked Abe into agreeing last September to start bilateral trade talks with the US
Trump took fewer overseas flights than his counterparts
Abe said the leaders also found common ground on climate change despite "big differences" in the members' views
China is Japan's biggest trade partner and that relationship has taken on added importance following President Donald Trump's decision to raise tariffs on $250 billion of Chinese goods
He adds that Trump hasn't attacked Japan on the topic of currencies since their first meeting.
be is expected to be re-elected head of the conservative LDP easily, and only one challenger, former defence minister Shigeru Ishiba
In a telephone call with Trump, Abe said a dialogue of North Korea with the US will lead to the denuclearisation of the Korean Peninsula