Early Extra Diet Session Sought after GDP Collapse
Tokyo, Aug. 17 (Jiji Press)--Japanese opposition parties on Monday stepped up their call for the government to convene an extraordinary session of the Diet, the country’s parliament, at an early date to discuss stimulus measures following the economy’s steep contraction.
Japan’s seasonally adjusted gross domestic product in April-June fell a real 27.8 pct from the previous quarter on an annualized basis, posting the sharpest drop in the postwar period, according to preliminary data released by the Cabinet Office earlier in the day.
The fall of course reflected the impact of the new coronavirus outbreak, but it also shows that Abenomics, the economic policy mix of Prime Minister Shinzo Abe, “has ended in failure,” Seiji Osaka, policy chief of the largest opposition Constitutional Democratic Party of Japan, said in a statement.
“It is obvious that the consumption tax rate hike last year and (the government’s) bungled measures against the virus outbreak aggravated the economic slowdown,” he said.
Osaka demanded that the government and the ruling bloc convene an extraordinary Diet session to discuss additional measures to tackle the virus crisis and new economic steps.
[Copyright The Jiji Press, Ltd.]