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
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »