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Japan to review fiscal health goal with calls for more public spending

TOKYO – The Japanese government is set to re-examine its goal of achieving fiscal consolidation in fiscal 2025 due to growing calls within the ruling Liberal Democratic Party to boost public spending to prop up the economic recovery, which is now threatened by rising raw material prices, senior LDP members said Thursday.   Such a review will be stipulated in the government’s annual fiscal and economic policy guideline for the second consecutive year, possibly delaying….Read more

POLITICS

Kishida vows to reassure people amid soaring prices

Tokyo, May 25 (Jiji Press)–Japanese Prime Minister Fumio Kishida on Wednesday vowed to give people a sense of security at a time when the country faces soaring prices of crude oil and other goods.     “The (price) situation is unpredictable, and we will reassure people by swiftly responding to possible unexpected demand for fiscal spending that may arises under the….Read more

  • May 25, 2022
  • , Jiji Press , 7:17 p.m.
  • English Press

ECONOMY > Economic Policy

Kishida unveils “new form of capitalism” in London

All Friday papers highlighted an economic speech that Prime Minister Kishida delivered in London on Thursday for local economists, investors, and other businesspeople. The Japanese leader presented an outline of his “new form of capitalism” economic initiative, explaining that the public sector will take the lead in encouraging the private sector to increase investment in order to address such paramount….Read more

ECONOMY > Economic Policy

METI goal: 172 trillion yen in public-private investment for decarbonization, economic security

The Nikkei learned on April 26 that the Ministry of Economy, Trade and Industry (METI) has set a goal to increase public-private sector investment in priority areas, such as economic security and decarbonization, to 172 trillion yen by 2030. This is 1.5 times the amount currently invested. METI also aims to spur economic growth by accelerating investment in human resources….Read more

  • April 27, 2022
  • , Nikkei , p. 5
  • JMH Translation

POLITICS

Japan gov’t to spend 6.2 t. yen to fight soaring prices

Tokyo, April 25 (Jiji Press)–The Japanese government is considering spending 6.2 trillion yen from state coffers for a comprehensive emergency package of measures to address soaring prices, sources said Monday.     The total size of the package, including measures involving the private sector, is expected to hit 13.2 trillion yen.     The package, to be decided as early as Tuesday,….Read more

  • April 25, 2022
  • , Jiji Press , 10:59 p.m.
  • English Press

ECONOMY > Economic Indicators

Japan upgrades key economic assessment for 1st time in 4 months

TOKYO – Japan’s government on Thursday upgraded its key economic assessment for the first time in four months, citing a recovery in private consumption, as the effects of the coronavirus pandemic wane.   “The Japanese economy shows movements of picking up,” the Cabinet Office said in its monthly report for April, while dropping the expression “some weaknesses are seen” it had….Read more

  • April 21, 2022
  • , Kyodo News , 5:25 p.m.
  • English Press

ECONOMY > Economic Policy

Finance minister says sinking yen is “bad” for Japan

Saturday’s Nikkei reported that Finance Minister Suzuki told the press on Friday that the recent rapid depreciation of the yen against the U.S. dollar is “bad” because higher raw material prices have not been passed on to consumers and wages remain sluggish. The daily said it was unusual for the currency authorities to comment on the yen’s value vis-à-vis other….Read more

  • April 16, 2022
  • , Nikkei, Sankei
  • JMH Summary

POLITICS

Gov’t to hold urgent ministerial meeting on economic stimulus on April 5

The government is making arrangements to hold on April 5 its first ministerial session to discuss urgent economic measures to address rising prices for oil and other goods as a result of Russia’s invasion of Ukraine and hopes to compile a stimulus package by the end of the month to help businesses and individuals who have been hit hard.  ….Read more

ECONOMY > Economic Policy

U.S., Japanese officials agree to closely communicate on currency fluctuations

Nikkei, Mainichi, Asahi, and Sankei wrote that Vice Minister of Finance for international affairs Kanda Masato held talks with Acting U.S. Undersecretary of the Treasury Andy Baukol at the ministry on the recent currency fluctuations. Kanda told reporters after the meeting that he and Baukol agreed to closely communicate on currency movements. “Exchange rate stability is important and rapid fluctuations….Read more

  • March 30, 2022
  • , Asahi, Mainichi, Nikkei, Sankei
  • JMH Summary
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