World Bank head optimistic about Abe’s 3rd arrow of Abenomics
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World Bank Kim optimistic about Abe’s “3rd arrow”
Date: Jun 29, 2014
Source: Jiji Press
WASHINGTON (Jiji Press)—World Bank President Jim Yong Kim has voiced optimism about the Japanese government’s growth strategy, which is the “third arrow” of Prime Minister Shinzo Abe’s three-pillar economic policy package called Abenomics.
Abe’s commitment to tackling “rock hard regulations” related to employment, agriculture and healthcare is a “very encouraging sign,” Kim said Friday in an interview with media organizations, including Jiji Press. “And so, we remain optimistic that he will be able to deliver on that third arrow,” Kim said, pinning high hopes on the growth strategy, which was updated on Tuesday.
Kim also said consumer spending in Japan will regain strength by around September after weakening due to the consumption tax hike to 8 percent from 5 percent in April. “We remain optimistic that the Japanese economy will continue to recover,” he observed.
