Ministerial Council on the Monthly Economic Report and Other Relative Issues

 
On August 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. The Prime Minister attended the meeting by video conference from the Prime Minister’s Official Residence.
 
Regarding the assessment of the current state of the Japanese economy, the August Monthly Economic Report states, “The Japanese economy is picking up moderately. “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, the slowdown of overseas economies due to global monetary tightening and other factors poses a downside risk to the Japanese economy. “Also, full attention should be given to impact of price increases on households and businesses and supply-side constraints.”