Japan's Goto Hopes to Put Economy on Higher Growth Path

Politics

Tokyo, Nov. 10 (Jiji Press)--New Japanese economic revitalization minister Shigeyuki Goto hopes to put the economy on a higher growth path by implementing the latest comprehensive economic package and realizing the "new capitalism" initiative.

In Japan, service consumption is recovering and economic and social activities are returning to normal, but there are risks, such as soaring energy and food prices due to the yen's rapid weakening and a possible global economic downturn, Goto said in an interview with Jiji Press and other media organizations Wednesday.

He stressed that the economic package to combat inflation, adopted late last month, also includes measures to realize social structural reform under the new capitalism envisioned by Prime Minister Fumio Kishida.

Goto expressed an eagerness to "not just overcome the immediate difficulties but put the Japanese economy on a growth path one notch higher over the longer term" through the package.

He said that it is highly meaningful to resolve various social issues by utilizing technological innovation such as digital and green transformation and strive to achieve the new capitalism, which will serve as a growth engine.

[Copyright The Jiji Press, Ltd.]

Jiji Press