Ministerial Council on the Monthly Economic Report and Other Relative Issues

July 26, 2023

}[Provisional translation]

On July 26, 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 July Monthly Economic Report states, “The Japanese economy is recovering at a moderate pace.” Furthermore, concerning short-term prospects, the Report states that “the economy is expected to continue recovering at a moderate pace with the improving employment and income situation,” supported by policy effects. 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 and fluctuations in the financial and capital markets.”

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