No Further Stimulus under Consideration Now: Aso

Politics Lifestyle

Tokyo, May 14 (Jiji Press)--Despite signs of a faltering economy in Japan ahead of a consumption tax hike in October, the government is not considering any further stimulus measures at the moment, Finance Minister Taro Aso said Tuesday.

Referring to negative economic implications from escalating U.S.-China trade friction, Aso told a news conference that the government does not believe the situation will develop into a crisis as severe as the 2008 financial meltdown.

On Monday, the Cabinet Office said the country's composite index of coincident economic indicators fell from the previous month in March. Based on the result, the government agency downgraded its view of the index, saying that it is "worsening," the first such assessment in over six years.

At a press conference on the same day, Chief Cabinet Secretary Yoshihide Suga suggested that the government could take additional stimulus measures.

But on Tuesday, Aso said that Suga just mentioned the need to create an environment that warrants the 2-percentage-point tax rate hike to 10 pct.

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Jiji Press