Japan Finance Minister blames private consumption for causing GDP contraction

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Private consumption was the biggest factor for Japan's economic contraction in the January-March quarter, Finance Minister Taro Aso said on Tuesday.

FILE PHOTO: Japan's Deputy Prime Minister and Finance Minister Taro Aso, wearing a protective face mask, delivers his policy speech at the opening of an ordinary session of the parliament in Tokyo, Japan January 18, 2021.

Issei KatoAso told reporters after a cabinet meeting that the economy would resume a recovery ahead on the back of the government's stimulus measures and a pick-up in the global economy.Aso made the comment shortly after government data showed Japan's economy shrank an annualised 5.1per cent, posting the first contraction in three quarters.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines