Ministerial Council on the Monthly Economic Report and Other Relative Issues

February 21, 2023
[Provisional translation]
On February 21, 2023, 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 February Monthly Economic Report states, “The Japanese economy is picking up moderately, although some weaknesses have been seen recently.” Furthermore, concerning short-term prospects, the Report states that “the economy is expected to show movements of picking up,” supported by policy effects “under the ‘new normal.’” The Report further states that, however, the slowdown of overseas economies poses a downside risk to the Japanese economy,” amid ongoing global monetary tightening and other factors. Also, full attention should be given to price increases, supply-side constraints, fluctuations in the financial and capital markets and the spread of infectious diseases in China.”

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