TOKYO (AFX-ASIA) - Finance Minister Masajuro Shiokawa said he believes first quarter GDP results will show a "good" figure but the following quarter will be weaker.
"I think the result of GDP for January-March will show a good reading but I'm carefully watching the result for April-June; that's the problem," he said at a regular press conference.
Asked whether second quarter GDP may show negative growth, he said: "I think April-June will not slow so seriously, compared with the previous quarter's growth. That means it will be weaker than January-March."
Shiokawa said the government should broaden the use of funds budgeted for public works.
"I can agree that the government's public works spending should cover a variety of construction, such as hospitals, research institutes, libraries, art galleries."