Report by the WTO Secretariat

During the review period, Japan’s economic performance remained sluggish in light of, among others, persistently low inflation and an aging and declining population. The series of natural disasters that hit the country in recent years further hampered the economy and put increased pressure on public finances. The authorities have responded with extensive policy measures with a view to boosting business and consumer confidence and consolidating public finances. The Government’s three-pillar strategy of monetary easing, fiscal stimulus, and structural reforms (in areas such as agriculture, energy, and healthcare) continues to be the main strategy framework for exiting deflation and revitalizing the country’s economy.