Abe hints at new economic stimulus

April 10, 2018

Tokyo- Japanese Prime Minister Shinzo Abe on Monday hinted at considering new economic stimulus measures to prevent an economic slowdown following a planned consumption tax hike in October 2019.

"We'll further strengthen the 'three-arrow' policy," featuring bold monetary policy, flexible fiscal spending and structural reform, Abe told a meeting with Bank of Japan Governor Haruhiko Kuroda, who started his second term on the day.

"The Japanese economy is at a crucial stage," the prime minister said. "We're ready to implement all possible measures."

"We need to create an economic situation that makes it possible to raise the consumption tax," Finance Minister Taro Aso, who also attended the meeting, told reporters.

Economic and Fiscal Policy Minister Toshimitsu Motegi, another participant, expressed his eagerness to boost the economy's growth potential by overcoming the country's declining birthrate and aging population. Jiji Press