World Economy

Japan to Fortify 2015 Growth

Japan to Fortify 2015 GrowthJapan to Fortify 2015 Growth

With Japan’s slump into its fourth recession since 2008 threatening the failure of the Abenomics reflation program, Prime Minister Shinzo Abe’s administration is taking steps to shore up growth for the coming year. Economy Minister Akira Amari told reporters Monday in Tokyo there’s a high chance of a stimulus package. Etsuro Honda, an adviser to Abe, said a 3 trillion yen ($26b) program was appropriate and should go toward measures that directly help households, such as child care support, Bloomberg reported. Abe is also considering a postponement of an October sales-tax increase until 2017 – a move that would add 0.3 percentage point to growth in the coming fiscal year.