Japan must promote wage, investment growth, says PM Kishida

Japan's PM Kishida holds a press conference, in Tokyo

Japan's Prime Minister Fumio Kishida speaks during a press conference at the prime minister's office in Tokyo on August 14, 2024. Kishida confirmed on August 14 that he will not seek re-election as head of his party next month, meaning the end of his premiership. PHILIP FONG/Pool via REUTERS

Source: Pool

By Leika Kihara

Japanese Prime Minister Fumio Kishida said on Wednesday the government must continue to promote growth in wages and investment for the economy to make a full exit from deflation.

Kishida said one of his administration's achievements had been to lay the groundwork for pulling Japan fully out of deflation.

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"In order to fully emerge from a deflation-prone economy, we must accelerate wage and investment growth, and ensure we achieve our goal to expand Japan's gross domestic product to 600 trillion yen ($4.10 trillion)," Kishida told a news conference.

Kishida made the remark at a news conference where he said he would step down as ruling party leader and not run in the party's leadership race expected in September.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters