Home > Japan > All That Matters is Nominal GDP, Japan Edition

All That Matters is Nominal GDP, Japan Edition

From the summary of “Basic Policies for Economic and Fiscal Management and Reform” from the Cabinet Office in Japan – what macro policy vision does Abe’s Cabinet have?

Macroeconomic vision that Japan should aim for in a new decade of revival

• Labor productivity growth by 2 percent or more in the medium- to long-term with a faster increase in wages than prices, accompanied by increased job opportunities

• Growth of gross domestic product (GDP) by around 3 percent in nominal terms and around 2 percent in real terms, with a higher growth rate to be set for the late 2010s

• Under the conditions specified above, it is expected that nominal gross national income (nominal GNI) per capita will grow by more than 3 percent in the medium- to long-term, resulting in an increase of 1.5 million yen or more in 10 years.

A longer policy document is also available.

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Categories: Japan
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