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  • Writer's pictureBy The Financial District

New Economy Chief Sees End Of Japan Deflation

New Economy Minister Yoshitaka Shindo has stated that positive signs were emerging in output gaps and other areas, indicating that the economy is on a path to escape deflation, as reported by Tetsushi Kajimoto for Reuters.

Japanese Economy Minister Yoshitaka Shindo I Photo: Arctic Circle X

However, Shindo mentioned during his inaugural news conference that these signs must gain strength before declaring victory over deflation, a cycle of persistent price declines that hampers economic growth, as also reported by Japan Times.

"It's important to achieve private demand-led growth and exit from deflation," Shindo emphasized, echoing the determination expressed by Prime Minister Fumio Kishida a day earlier.

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