Japan to Aim for Growth of Over 1 Pct amid Population Decline

Society

Tokyo, June 11 (Jiji Press)--The Japanese government will aim to stably achieve annual economic growth of over 1 pct to ensure the sustainability of the country's social security system in the 2030s and beyond, when the country's population decline will be in full swing, it was learned Tuesday.

The target was included in a draft of the government's annual economic and fiscal policy guidelines presented at the day's meeting of the Council on Economic and Fiscal Policy. The government hopes to adopt the guidelines at a cabinet meeting this month.

In the draft, the government stressed its determination to get the country completely out of deflation and prevent it from ever returning to deflation.

Positioning the period through fiscal 2030 as the "last chance" for structural reform of the economy, the draft includes a goal of shifting to a "new growth-oriented economic stage" by implementing a six-year economic and fiscal program for steady wage increases and strategic investment.

"Based on the program, we will work to achieve a sustainable economy and society in which citizens can feel prosperity and happiness," Prime Minister Fumio Kishida said at the council meeting.

[Copyright The Jiji Press, Ltd.]

Jiji Press