imf urges reloaded abenomics for japan growth targets
Last Updated : GMT 10:12:49
Arab Today, arab today
Arab Today, arab today

IMF urges 'reloaded' Abenomics for Japan growth targets

Arab Today, arab today

Arab Today, arab today IMF urges 'reloaded' Abenomics for Japan growth targets

International Monatery Fund
Tokyo - AFP

The IMF said Monday that Japanese Prime Minister Shinzo Abe's eponymous economic revitalisation plan needs to be "reloaded" with steps to increase incomes and achieve labour reforms to meet ambitious growth and inflation targets.
Abe swept to power in late 2012 on a pledge to kick-start the world's No. 3 economy with his "Abenomics" policy blitz -- a mix of massive central bank monetary easing, government spending and efforts to slash red tape.
The plan got off to a promising start as it sharply weakened the yen, a plus for Japan's exporters, which set off a stock market rally. But promised reforms have been slow in coming and doubts are growing about its prospects for success.
"Abenomics has made progress in revitalising the Japanese economy but sustained higher growth and inflation remain elusive," the International Monetary Fund said in a report at the conclusion of annual talks in Tokyo.
It added that in order to achieve those targets a "more substantial, coordinated policy upgrade", including steps to boost incomes and achieve labour reforms, are needed.
"Abenomics needs to be reloaded," it said, adding that monetary and fiscal policies alone cannot realise the government's two percent inflation target.
Abe has been pushing stingy companies to boost workers' wage packets, but Toyota only lifted workers' monthly pay by 1,500 yen ($14) despite record profits.
Honda meanwhile increased wages by 1,100 yen and Nissan 3,000 yen.
The IMF called for the government to ensure that profitable companies lift basic wages by at least three percent and reduce the gap between lifetime workers and growing numbers of so-called non-regular workers who often lack benefits.
Japan also needs to gradually raise the country's consumption tax "towards at least 15 percent" gradually "over regular intervals" to achieve fiscal sustainability and growth, the report said.
Abe announced earlier this month that he will delay a consumption tax hike, planned for 2017, to late 2019, when he is likely no longer in office.
The decision threatened to rekindle fears about Japan's ability to finance a staggering national debt, one of the worst among rich nations as the population rapidly ages.
Last year, the government postponed raising the tax from the current eight percent to 10 percent until April 2017.
nf/kgo/kb
Stay updated on the go with Times of India News App. Click here to download it for your device.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf urges reloaded abenomics for japan growth targets imf urges reloaded abenomics for japan growth targets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf urges reloaded abenomics for japan growth targets imf urges reloaded abenomics for japan growth targets

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday