Japan GDP to Return to Prepandemic Levels in FY 2021: Nishimura

Tokyo, Jan. 18 (Jiji Press)--Japan's gross domestic product is expected to rebound to prepandemic levels during fiscal 2021 from April, economic revitalization minister Yasutoshi Nishimura said in a policy speech before parliament Monday.

Nishimura indicated the government intends to do all it can to shore up the domestic economy, using a "15-month budget" that combines a fiscal 2021 budget and a third supplementary budget for fiscal 2020.

Amid the ongoing spread of COVID-19 infections in the country, Nishimura stressed the need to pay full attention to downside economic risks.

Under a fresh COVID-19 state of emergency declared in 11 prefectures earlier this month, the government will thoroughly take effective measures where infection risks are high, the minister said.

The minister noted a plan to submit promptly a bill to revise the special law for the fight against the pandemic to impose penalties on businesses defying requests to shorten operating hours.

[Copyright The Jiji Press, Ltd.]