Japan’s business leaders on Thursday expressed their resolve to take measures to ensure the nation’s economic recovery, in cooperation with Prime Minister Shinzo Abe’s government.
In a New Year message, Japan Business Federation Chairman Sadayuki Sakakibara said, “Abenomics has steadily achieved certain results, bringing the exit from deflation into sight,” referring to the premier’s economic stimulus campaign.
“We face the moment of truth as to whether the Japanese economy can return to the path toward full growth,” said the head of the lobby for major firms commonly known as Keidanren.
Sakakibara also urged the Abe administration to clearly show the world how Japan will improve its fiscal health, which is the worst among major developed countries.
Akio Mimura, chairman of the Japan Chamber of Commerce and Industry, underlined that the country must tackle “structural issues,” such as population decline and weakening regional economies.
In order to address such problems, Mimura said, Abe as the head of a “stable” administration following victories in a series of parliamentary elections, is required to implement reforms to ensure growth, even though they might cause “pain” to some sectors.