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2016/02/15
Edano states shrinking GDP “is the total opposite of Prime Minister Abe’s pledge”
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On February 15, DPJ Secretary General Yukio Edano responded to reporters’ questions inside the Diet building. He commented on the fact that Japan’s GDP shrank 0.4% on quarter for the last quarter of last year, contracting at an annualized rate of 1.4%, saying, “What has happened to the “virtuous cycle” promised for the economy? The actual figures paint a picture that is the total opposite of Prime Minister Abe’s pledge.”
Edano pointed out, “Real GDP increased by 5.8% during the 3 years and 3 months that the DPJ was in power, but has only increase by 1.9% during the 3 years of the Abe administration. Results show that the DPJ administration was much more successful at growing the economy than the Abe administration.” He called on the Prime Minister to honestly admit to the real state of the Japanese economy.
Edano also commented on the forthcoming debate in the House of Representatives Committee on Budget, saying “We will call for clarification of the allegations relating to former Minister of State Amari, and for Minister of the Environment Tamayo Marukawa to take responsibility for her comments [criticizing the decision made by the DPJ administration to lower the annual radiation dose].” Edano went on to state that the assumptions that could be drawn from economic conditions such as share prices had changed since the budget had been compiled and criticized the stance of the administration in focusing on scheduling as they attempted to get the budget passed by the House of Representatives, saying: “It may well be time for the government to seriously consider rearranging the budget.”
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