Komeito Warns of "Worst Postwar Crisis," Urges New Economic Package


Tokyo, March 15 (Jiji Press)--Natsuo Yamaguchi, head of Komeito, the coalition partner of Japan's ruling Liberal Democratic Party, on Tuesday called for new economic measures to combat inflation following Russia's invasion of Ukraine.

"Depending on how the situation develops, we could enter the worst crisis in the post-World War II era," Yamaguchi said at a joint meeting between the government and the ruling parties. "In order to surely protect people's lives, we want (the government) to consider fresh stimulus measures."

Participants in the meeting agreed to make all-out efforts to fight rising goods and services prices reflecting the fallout of the Ukraine crisis.

Yamaguchi stressed the need for further measures against soaring crude oil prices, such as the unfreezing of a so-called trigger clause for a temporary gasoline tax cut, in addition to subsidies to oil wholesalers.

Prime Minister Fumio Kishida, also LDP leader, said, "We will monitor closely the impact on domestic prices of grains, fisheries products and other goods, and respond flexibly," adding, "We'll consider all options and take steps if crude oil prices continue rising."

[Copyright The Jiji Press, Ltd.]

Jiji Press