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Suga Administration Facing Urgent Task of Reviving Economy

Suga Administration Facing Urgent Task of Reviving Economy

   Tokyo, Sept. 16 (Jiji Press)--Reviving the Japanese economy, which posted the sharpest contraction in the postwar era in April-June due to the novel coronavirus pandemic, is one of the most urgent tasks for the administration of new Prime Minister Yoshihide Suga.
   Suga is set to continue the policies of his predecessor, Shinzo Abe, including the Bank of Japan's ultraeasy monetary easing.
   The new prime minister looks ready to take additional economic measures, such as a possible third supplementary budget for fiscal 2020, after the Abe administration compiled two sets of extra budgets for the year to March 2021 to finance measures against the coronavirus.
   "Reviving the economy remains the most important mission" for the Japanese government, Suga said at his inaugural news conference on Wednesday. For shaping a post-coronavirus society, "we'll intensively take reform measures and promote investments as we aim to make the country's economy strong again," he added.
   Japan's seasonally adjusted gross domestic product in April-June plummeted a real 28.1 pct from the previous quarter on an annualized basis, taking a hit from the coronavirus fallout.

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AFP-JIJI PRESS NEWS JOURNAL


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