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IMF: Japan's economy needs additional reforms
02/8/2017 12:00 am
Tokyo / Morning follow-up
The International Monetary Fund (IMF) said on Tuesday that despite the acceleration of economic growth in Japan, the economic policy pursued by Prime Minister Shinzo Abe has not achieved full results and the country still needs structural reforms to emerge permanently from years of collapse of prices. Issued on Tuesday and revised the outline of a report prepared by a team that visited Tokyo in June, on concerns about the development of prices and public debt, citing a different outcome of the plan of Shinzo Abe development known as "Abenomics."
Applauding Japan's "improved economic performance", the IMF noted that "it is mainly under favorable external conditions and financial support," warning that "the improvement of conditions may be temporary."
He called for "the opportunity to push for a package of integrated and coordinated reforms".
"Abe's economic policy has improved economic conditions and produced some structural reforms, but has yet to allow for a sustainable exit from the price collapse," the IMF said in a detailed document attached to the conclusions.
"The program should give priority to structural measures to facilitate economic recovery (especially labor market reform to stimulate wages), followed by policies to increase potential growth," such as reforms to boost investment and diversify labor supply in conditions of Crisis in this area.
http://www.alsabaah.iq/ArticleShow.aspx?ID=141797
02/8/2017 12:00 am
Tokyo / Morning follow-up
The International Monetary Fund (IMF) said on Tuesday that despite the acceleration of economic growth in Japan, the economic policy pursued by Prime Minister Shinzo Abe has not achieved full results and the country still needs structural reforms to emerge permanently from years of collapse of prices. Issued on Tuesday and revised the outline of a report prepared by a team that visited Tokyo in June, on concerns about the development of prices and public debt, citing a different outcome of the plan of Shinzo Abe development known as "Abenomics."
Applauding Japan's "improved economic performance", the IMF noted that "it is mainly under favorable external conditions and financial support," warning that "the improvement of conditions may be temporary."
He called for "the opportunity to push for a package of integrated and coordinated reforms".
"Abe's economic policy has improved economic conditions and produced some structural reforms, but has yet to allow for a sustainable exit from the price collapse," the IMF said in a detailed document attached to the conclusions.
"The program should give priority to structural measures to facilitate economic recovery (especially labor market reform to stimulate wages), followed by policies to increase potential growth," such as reforms to boost investment and diversify labor supply in conditions of Crisis in this area.
http://www.alsabaah.iq/ArticleShow.aspx?ID=141797
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