By Regina Schleiger, BridgeNews
Davos--Jan. 27--Japanese Prime Minister Yoshiro Mori said Saturday that growth in fiscal 2001 will rise to a rate that is just short of reflecting a full recovery in the ailing economy. Japan is poised to begin contributing to the global economy again, and will again take its place at the front of the global economies after it undergoes "changes far and above those (perceived) by people in other countries," he said.
* * * "In fiscal year 2001 (April-March) it is expected that the economic growth rate will rise to the point just short of a full recovery of potential growth ability," Mori told the World Economic Forum here. He said that since 1998, the Japanese economy has undergone "steady changes" including a large-scale injection of public funds into the banking sector, changes to fiscal policy and "low interest financial measures" in order to boost demand.
"We should perhaps accept with good grace the criticism that economic adjustment not at all rapid in its implementation," Mori said. An IT strategy created last year will give Japan a leadership role in the global economy within five years, he said. End
Copyright 2001 Bridge Information Systems Inc. All rights reserved.