Abe: Govt. To Implement Stimulus Measures
Japanese Prime Minister Shinzo Abe says the government will implement a number of economic and fiscal policies to prop up the nation's economy.
He said they include the steady implementation of comprehensive stimulus measures worth 26 trillion yen, or about 250 billion dollars.
Abe spoke at an Upper House budget committee on Monday, after Japan's gross domestic product in the previous fourth quarter was revised downward to an annualized minus 7.1 percent.
He said the change came after the Cabinet Office revised capital investment downward for the same period.
He attributed the quarter-to-quarter contraction to a consumption tax increase in October, and also the impact of typhoons and a warmer winter.
Abe said the number of foreign tourists is falling due to the coronavirus outbreak. He also said there are increasing concerns about whether manufacturers can maintain production lines.
He said the government will implement economic and fiscal policies to respond to the outbreak, while closely watching the global economy.
