But Japan’s stock prices plummeted on Tuesday, amid the growing uncertainties about the global economic outlook
Tokyo … News Time
Japan’s Prime Minister Shinzo Abe is facing a challenge of keeping the country’s economy on track to allow the implementation of a planned consumption tax hike, in his seventh year in office. Wednesday marks six years after Abe formed a coalition Cabinet, following a landslide victory in the general election in 2012. Abe told reporters on Tuesday that he will continue to do his utmost for the state and the public in his seventh year. The government plans to raise the consumption tax from 8 to 10 percent in October. The government hopes to enact its largest-ever budget as early as possible in January’s ordinary Diet session, to maintain what Abe calls a virtuous cycle of the economy. The government stresses the fundamentals of the country’s economy are solid. But Japan’s stock prices plummeted on Tuesday, amid the growing uncertainties about the global economic outlook.
