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Emerging tourism figures play an important role in boosting economic performance since 1989

Friday, May 4, 2018

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JapanIn February, Japan recorded an eighth consecutive quarter of economic success, its best performance ever since the strong and exhilarating days of 1989 and the era of economic bubble of Japan even though the speed of expansion has been slowing.

 
Nonetheless, giving example of favorable external demand and climbing private investment, the International Monetary Fund anticipates the economy of Japan to grow almost 1.2 percent over the course of 2018 and a respectable 0.9 per cent in 2019.

 
“In truth, the economy has been growing by about double the rate of its potential growth in large part thanks to the effects of ‘Abenomics’,” says Martin Schulz, senior economist with the Fujitsu Research Institute in Tokyo. “While that growth will cool later next year, I would characterise this as normalisation of the growth rather than a contraction.”

 
The preliminary push was made by Prime Minister Shinzo Abe’s ambitious economic blueprint, launched soon after he occupied the post in December 2012, was the result of monetary policies helping to drive asset and real estate prices.

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