January 7, 2020 / 4:27 AM / a month ago

Japan finmin sees economy in moderate recovery

FILE PHOTO: Japanese Finance Minister Taro Aso takes questions from reporters at the annual meetings of the International Monetary Fund and World Bank in Washington, U.S., October 18, 2019. REUTERS/James Lawler Duggan

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday there was no change to the view that the economy remains in moderate recovery, despite rising pressure from a global slowdown.

“It’s true that manufacturers are mainly being affected by global slowdown,” Aso told reporters after a cabinet meeting. “But fundamentals that support domestic demand remains solid.”

Aso also said he did not expect a repeat of deep declines in demand as happened during the previous sales tax hike in 2014.

Reporting by Tetsushi Kajimoto; Editing by Shri Navaratnam

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