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Japan does not need to call for fiscal spending at G7 Summit: JCCI head

Prime Minister Shinzo Abe is planning to call on the G7 members to adopt fiscal stimulus measures at the Ise-Shima Summit. But Japan Chamber of Commerce and Industry Chairman Akira Mimura stressed at a May 24 press conference that there is no need to call for fiscal stimulus.

 

“There is no need to implement [fiscal stimulus] urgently except for measures to help rebuild regions hit by the Kumamoto earthquakes,” he said. “Japan needs to thoroughly pursue structural reforms and enhance its capabilities for further growth.”

 

On fiscal spending, Keidanren Chairman Sadayuki Sakakibara has already expressed the view that “Japan needs to carry out sizable fiscal spending to stimulate personal spending even if the G7 members fail to reach agreement.”

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