Tuesday, January 20, 2009
Ministerial Council on Monthly Economic Report and Other Relative Issues
Photograph of the meeting of the Ministerial Council on Monthly Economic Report and Other Relative Issues (1)
The Monthly Economic Report, released by the Cabinet Office, assesses the current state of the Japanese economy, stating that "The economy is worsening rapidly." On prospects for the economy, it states "While the economy is likely to continue worsening for the time being, there is fear that rapid reduction of production will lead to significant employment adjustment. Moreover, attention should be given to the risks that the economy would become severer due to the worsening global financial crisis, concerns over further slowdown in overseas economies and effects of large fluctuations in stock and foreign exchange markets."
The report further describes the government's policy stance. The government implements economic and fiscal policies by the three-stage consisted of economic measures in the near term, fiscal consolidation in the mid-term, and economic growth through reforms in the mid- to long-term.
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Photograph of the meeting of the Ministerial Council on Monthly Economic Report and Other Relative Issues (2)
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