Japan to pull together pillars of economic package early next week, says PM

(Reuters) – Japan’s Prime Minister Fumio Kishida said on Thursday he will instruct his government to pull together the pillars of an economic package early next week under his new cabinet.

Speaking at a news conference following his attendance at the General Assembly of the United Nations, Kishida said the economic stimulus package would include measures that counter issues such as inflation and depopulation.

“The economic situation of Japan is still not fully stable… domestic demand including consumption and investment is still unstable” although Japan’s economy has been showing signs of moving towards inflation, Kishida said.

He added that he hoped to disclose a bold economic package to accelerate those signs of change in Japan’s economy so that it could enter a new phase.

The comments follow similar remarks by newly inaugurated Economy Minister Yoshitaka Shindo last week saying positive signs were emerging in output gaps and other areas for the economy to escape deflation.

Kishida also said at the press conference that there were no plans as of yet to hold a summit with China by the end of this year, and reiterated Japan would continue to seek responsible actions from its neighbour.

(Reporting by Sakura Murakami in Tokyo; Editing by Chris Reese and Lincoln Feast)