Japan Economic Snapshot
Economic Forecast Summary (May 2021)
After a strong recovery at the end of 2020, the reintroduction of sanitary measures in early 2021 has dented near-term economic prospects. Even so, GDP is projected to expand by 2.6% in 2021 and 2% in 2022, supported by the strong recovery of the global economy and government spending. The new sanitary measures were more targeted than previously, with a smaller negative effect on consumption. As restrictions are lifted, and with government support, consumption is expected to recover. Still, subdued wage and employment growth will limit the pick-up in consumption, but stronger external demand will boost exports and support stronger investment.
Reform Priorities (April 2021)
Going for Growth 2021 - Japan
Mindful of the strong population ageing already underway, the COVID-19 recovery strategy needs to enhance labour force participation and spur business dynamism. Moreover, significant potential to expand use of digital technologies, in both the public and the private sector as well as education, should be seized.
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2021 Structural Reform Priorities
- Labour market: Support the employment of all available talents, allowing various work styles
- Competition and regulation: Ease entry barriers and raise productivity, especially in services, agriculture and SMEs
- Education and skills: Provide equal and improved education opportunities to all students
- Tax system: Improve the efficiency of the tax system for sustainable growth and public finances
- Environmental policy: Step up research and development and financing for meeting GHG emission goals
Economic Survey of Japan (April 2019)
Executive Summary
主な結論
Further reading
> Overview in English and in Japanese, 70 pages
> Read the survey online
> Meeting Japan’s intertwined challenges of population ageing and high government debt, Blog post
> Press Release
> Remarks, by Angel Gurría, OECD Secretary-General