12 March 2001, 11:52 Miyazawa: Economy set to pull out of trough
TOKYO (AFX-ASIA) - Finance Minister Kiichi Miyazawa said the
Japanese economy is set to pull out of its trough but the fiscal burden
will not begin to ease until consumption recovers.
His comments follow the release today of fourth quarter GDP data.
The economy is "on track to pull out" of its lows, Miyazawa told an
upper house budget committee.
"In the October-December GDP data, corporate capital investment has
shown strong growth of 6.8 pct from the previous quarter but personal
consumption, in contrast, posted negative 0.6 pct growth," Miyazawa
said.
"Japan's fiscal burden will not begin to decline unless personal
consumption, which accounts for 60 pct of GDP, recovers," he said.
© 1999-2024 Forex EuroClub
All rights reserved