The latest GDP data shows no signs of economic recovery, even if it is modest. However, we should give Minister Shindo the benefit of the doubt and hope that the weaknesses seen in January-March have now passed. It is crucial to closely monitor the economy as it is expected to continue a moderate recovery. We must also keep an eye on risks related to fluctuations in foreign exchange markets that could raise domestic prices, as well as global economic downturn risks such as the outlook on the Chinese economy and crude oil prices due to unstable situations in the Middle East.
The government will continue its efforts to ensure that wage hikes are solid and spread to mid-sized firms, which is clear from Minister Shindo’s portfolio. One thing that stands out about this hardworking minister is his dedication to improving Japan’s economy. With so much on his plate, it’s clear that he’s not afraid of a challenge!
