Kishida Needs to Tackle COVID-19, Economic Revival Together

Politics

Tokyo, Oct. 4 (Jiji Press)--The administration of new Japanese Prime Minister Fumio Kishida, launched on Monday, is expected to face a tough task to achieve economic revitalization while tackling the COVID-19 crisis at the same time.

Kishida vowed to pursue a modern version of the Income Doubling Plan, an economic policy introduced by former Prime Minister Hayato Ikeda in the 1960s, in order to expand the middle class through correcting economic disparities, during campaigning for the ruling Liberal Democratic Party's presidential election last week.

Kishida's skills will be put to the test to see whether he can achieve such a plan.

Speaking at a press conference on Monday, Kishida said his government will compile economic measures promptly. He has suggested readiness to draw up by the end of this year a large-scale economic package totaling several tens of trillions of yen to combat the prolonged novel coronavirus pandemic.

The ruling parties and central government aim to enact a supplementary budget for fiscal 2021 to fund the stimulus package.

[Copyright The Jiji Press, Ltd.]

Jiji Press