Japan Min. Highlights Downside Economic Risks from Abroad

Politics

Tokyo, Jan. 20 (Jiji Press)--Economic and Fiscal Policy Minister Yasutoshi Nishimura said Monday full attention needs to be paid to downside risks to the Japanese economy stemming from overseas issues.

Nishimura was referring to possible impacts from the U.S.-China trade war and tensions in the Middle East.

Nishimura made the remark as part of an economic policy speech he gave at a plenary meeting of the House of Representatives, the lower chamber of the Diet, Japan's parliament. On Monday, the Diet was convened for a 150-day ordinary session.

On the consumption tax hike from 8 pct to 10 pct in October last year, Nishimura said, "The scale of last-minute growth in demand and subsequent drops (in demand) were not as big as at the time of the previous hike (from 5 pct to 8 pct in April 2014)."

"We will conduct macroeconomic management seamlessly and with full preparations" under the so-called 15-month budget, Nishimura said in the speech.

[Copyright The Jiji Press, Ltd.]

Jiji Press