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This brochure highlights the Japan's key challenges which are to achieve sustained growth and fiscal sustainability. The three-pronged strategy combining bold monetary policy, flexible fiscal policy and a growth strategy should be effectively implemented to realise these goals.
The new government’s resolve to revitalise the economy through a three-pronged strategy, combining bold monetary policy, flexible fiscal policy and a growth strategy is most encouraging, said OECD Secretary-General.
Japan is emerging from a difficult five-year period, marked by two major shocks -- the 2008 global financial crisis and the tragic 2011 Great East Japan Earthquake -- and three recessions. We admire the courage and resolve of the Japanese people in face of such adversity and we confirm our feeling of optimism and dynamism in Japan, said OECD Secretary-General.
Focusing on the new growth strategy of Japan, OECD Secretary-General noted that the key priority is to increase productivity, the country being well below the levels of the upper half of OECD countries, while it should aim to be very near the top.
Le Japon est sur le point d'entrer dans une phase d'expansion économique, mais ses perspectives de croissance à long terme demeurent tributaires d'efforts supplémentaires destinés à redonner de la vitalité à l'économie et à réduire des niveaux intenables d'endettement public, selon la dernière Étude économique de l'OCDE sur le Japon.
The coming expansion will be driven by exports, and should increase business investment and employment and bring an end to deflation. While we are encouraged by these developments, it remains critically important for Japan to address extremely high and still rising levels of government debt and other challenges posed by its ageing population, said OECD Secretary-General.
Speaking at the Japan's House of Representatives, OECD Secretary-General said that Japan is one of the most active and proactive OECD members. He added that Japan has made remarkable contributions to the work of our Organisation and is playing a central role in key policy areas like science and technology, education, environment and investment.
Les principaux défis consistent à atteindre durablement la croissance et la viabilité budgétaire. La démarche associant la politique monétaire, la politique budgétaire et la stratégie de croissance est nécessaire pour réaliser ces objectifs.
OECD Secretary-General will visit Japan on 22-24 April to launch the Economic Survey of Japan. During his stay in Tokyo, Mr. Gurría will also meet government officials and representatives from the business and labour communities amongst others.