Recovery due to stimulus, not Abenomics: IMF official
Wages, corporate investment haven't improved, he says
THE success of Abenomics "is not yet assured" and Japan's economic recovery since Prime Minister Shinzo Abe came to power just over a year ago largely reflects official "stimulus", a senior International Monetary Fund (IMF) official said in Tokyo yesterday.
Jerry Schiff, deputy director of the IMF's Asia and Pacific department, made these comments as latest government data revealed a record decline in core machinery orders, a key capital investment indicator.
The visiting IMF team's rather sober assessment of the economy is likely to cause some consternation in Mr Abe's cabinet, as Abenomics' success is viewed as a key factor in maintaining Mr Abe's popularity with voters at a time when other government policies have stoked controversy.
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