Wage Hikes Cornerstone of Japan Economic Growth Strategy: Govt

   Tokyo, June 6 (Jiji Press)--The government highlighted wage hikes as a cornerstone of Japan's economic growth strategy, in a draft of its planned basic policy on economy, public finances and reform presented Friday.
   In the draft submitted at a meeting of the Council on Economic and Fiscal Policy, the government said that the three decades of the country's cost-cutting economy is coming to an end.
   Seeing wage hikes as a key part of its growth strategy, the government vowed to realize pay rises that exceed price increases in a stable way.
   The government aims to gain cabinet approval in mid-June for the first such basic policy under Prime Minister Shigeru Ishiba's administration, launched in October last year.
   "We'll do everything we can to prepare for immediate risks while beefing up the growth potential of both the Japanese economy across areas throughout the country, in order to ensure that we transition into a growth-oriented economy without falling back into deflation," Ishiba told the meeting.

(2025/06/06-21:26)

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