Ministerial Council on the Monthly Economic Report and Other Relative Issues

On May 25, 2022, Prime Minister Kishida attended a meeting of the Ministerial Council on the Monthly Economic Report and other relative issues at the Prime Minister’s Office.

Regarding the assessment of the current state of the Japanese economy, the May Monthly Economic Report states, “The Japanese economy shows movements of picking up.“ Furthermore, concerning short-term prospects, the Report states that “the economy is expected to show movements of picking up,” supported by policy effects "while all possible measures are being taken against infectious diseases, and economic and social activities proceed to normalization.” The Report further states, “However, full attention should be given to the downside risks due to supply-side constraints, rising raw material prices, and fluctuations in the financial and capital markets” amid concerns over the effects of the re-expansion of the novel coronavirus disease (COVID-19) in China and the prolonged situation in Ukraine. Also attention should be given to the effects of COVID-19.