5 December 2001, 09:20 Japan LDP's Koga - Weaker yen needed to boost economy
TOKYO (AFX-ASIA) - Former ruling Liberal Democratic Party chief and
current member Makoto Koga said a weak-yen policy is needed to boost
the Japanese economy.
"Considering the future of the Japanese economy in the 21st
century, I believe a weaker yen against the dollar is inevitably
necessary," Koga told a meeting of business executives.
"I think it is important that the political and business community,
as well as the public, agree a weaker-yen environment is needed for the
Japanese economy," he said.
He said the chances of recovery in Japan are drifting further away
as the US economy will take longer to rebound after the Sept 11
attacks, adding that politicians should build a campaign to force
through a weak-yen policy.
"The government should focus public investment in the next fiscal
year's budget more on large cities, though not limited to the Tokyo,
Osaka and Nagoya metropolitan areas," Koga added.
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