Abe Starts 7th Year in Office

Politics

Tokyo, Dec. 26 (Jiji Press)--Japanese Prime Minister Shinzo Abe on Wednesday marked the start of his seventh year in office since returning to power, still struggling to achieve the country's exit from deflation.

Speaking at a meeting of business leaders, Abe touted the achievements of his economic policy, saying he has "added strong momentum to the economy's virtuous cycle."

He said December marked the 73rd consecutive month of economic recovery, which is said to match the longest such run in the post-World War II period.

But uncertainties about the economy's outlook have been growing. On Wednesday, the country's key Nikkei stock average briefly fell below 19,000 for the first time since April last year.

In his seventh year in power, Abe faces the challenge of helping the economy weather a consumption tax increase, set for October next year.

[Copyright The Jiji Press, Ltd.]

Jiji Press