Policy Proposals Economic Policy, Social Security Establishing a Path for Growth of the Japanese Economy -- Realizing Prosperous Living for the People --
Business conditions in Japan continue to recover steadily. Japan is regaining its "confidence in growth" thanks to the economic policies of the Abe administration. Now is the time that companies must lead in creating new opportunities for growth with a future vision.
The country's goal should be summarized into the following four points:
- 1. Realization of a sustainable nominal economic growth of about 3 percent and fiscal soundness
- 2. Creation of a "positive cycle" in which expansion of corporate earnings will lead to the improvement of employment and household income
- 3. Establishment of a truly global Japanese economy
- 4. Realization of a country that leads the world with its cutting-edge science and technology
In order to achieve that goal, the following growth-promoting reforms need to be implemented.
- (1) Advancing globalization of the economy
- (2) Accelerating innovation
- (3) Discovering new domestic demand
- (4) Enhancing the quality of human resources
- (5) Finding solutions to the energy issues and improving fiscal soundness
- (6) Strengthening the competitiveness of Japan as a business hub
By carrying out the reforms, 3% nominal growth and 2% real growth on average is expected to be achieved between FY2014 and FY2030 and the current nominal GDP of 480 trillion yen is expected to increase to 850 trillion yen in FY 2030. At the same time, through the improvement in fiscal health, the primary balance in FY2020 will turn into the black, which is Japan's international pledge.
To realize these outlooks, Keidanren will do its utmost to accelerate innovation and create new growth opportunities in pursuit of more prosperous living for the people.
Establishing a Path for Growth of the Japanese Economy
-- Realizing Prosperous Living for the People --