GDP-minus Consumption tax hike is on track for recovery Prime Minister Abe February 17 at 16:56

Prime Minister Abe said that the GDP growth rate from October to December last year turned negative, and that the deliberation of the House of Representatives Budget Committee had a certain effect due to the consumption tax hike. He acknowledged that the economy will continue to recover gradually.

Among them, Prime Minister Abe commented on the GDP from October to December last year announced by the Cabinet Office on the 17th that "it was affected by the typhoon and warm winter in addition to a certain degree of reactionary decrease accompanying the increase in the consumption tax rate. At this point, we don't think the last-minute demand and reactionary decline was as big as the previous increase. "

Then, "We will carefully assess the impact of the consumption tax hike and the effects of the new coronavirus infection on the economy. We will work on the early execution of the supplementary budget for this fiscal year and have formulated a business scale prepared for the downside risk of the economy.26 We will do our utmost to ensure economic and fiscal management, such as steadily executing trillions of yen of comprehensive economic measures. "

Prime Minister Abe commented on the outlook for the economy in the future, saying, "In view of the favorable employment and income environment and the effects of economic measures, the Japanese economy will continue to be driven by domestic demand. We expect the gradual recovery to continue. "