Japanese PM calls for boosting wages, investment to combat deflation

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By Nada Ali
Japanese Prime Minister Fumio Kishida attends a bilateral meeting with Kenyan President William Ruto at the prime minister's office in Tokyo, Japan, Thursday, Feb. 8, 2024. Credit: REUTERS.

Japanese Prime Minister Fumio Kishida emphasised on Wednesday the need to boost wages and investment to help the economy exit deflation.

“In order to fully emerge from a deflation-prone economy, we must accelerate wage and investment growth, and ensure we achieve our goal to expand Japan’s gross domestic product to 600 trillion yen,” Kishida told a news conference.

Kishida announced his decision to step down as ruling party leader and not participate in the upcoming leadership race in September.

Attribution: Reuters

Subediting: M. S. Salama

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