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Japan must promote wage, investment growth, says PM Kishida

Published 08/13/2024, 10:51 PM
Updated 08/13/2024, 11:22 PM
© Reuters. Japan's Prime Minister Fumio Kishida speaks during a press conference at the prime minister's office in Tokyo on August 14, 2024. Kishida confirmed on August 14 that he will not seek re-election as head of his party next month, meaning the end of his prem

By Leika Kihara

TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida said on Wednesday the government must continue to promote growth in wages and investment for the economy to make a full exit from deflation.

Kishida said one of his administration's achievements had been to lay the groundwork for pulling Japan fully out of deflation.

"In order to fully emerge from a deflation-prone economy, we must accelerate wage and investment growth, and ensure we achieve our goal to expand Japan's gross domestic product to 600 trillion yen ($4.10 trillion)," Kishida told a news conference.

© Reuters. Japan's Prime Minister Fumio Kishida speaks during a press conference at the prime minister's office in Tokyo on August 14, 2024. Kishida confirmed on August 14 that he will not seek re-election as head of his party next month, meaning the end of his premiership.  PHILIP FONG/Pool via REUTERS

Kishida made the remark at a news conference where he said he would step down as ruling party leader and not run in the party's leadership race expected in September.

($1 = 146.4200 yen)

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