Koizumi says Japan's economy recovering, vows to fight deflation
Published:
24 January 2005 y., Monday
Japan's economy is recovering on the back of rising consumer spending and improving corporate profits, Prime Minister Junichiro Koizumi said Friday while vowing to keep fighting deflation.
"Without relying on government pump-priming, Japan's economy has been recovering on an improvement in corporate earnings and an increase in capital and consumer spending," he told parliament.
Koizumi's remarks came after the government formally adopted forecasts Friday of 1.6 percent growth and a slight 0.1 percent inflation rate in the fiscal year to March 2006.
This compared with estimates of 2.1 percent growth and a 0.1 percent fall in prices for the current year to March 2005.
Koizumi said that substantial reforms had put the economy on a better footing to stage a recovery and vowed to continue with them to counter the threat of deflation.
"As we are seeing the buds of reform, we must turn them into a big tree," he said, adding: "The government and the Bank of Japan together will fight deflation".
He said that non-performing loans at major Japanese banks had been cut sharply since he took office in April 2001 and pledged to press ahead with further structural reforms.
Šaltinis:
AFP
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »