INTERVIEW: Japan Aims for Growth-Oriented Economy

Tokyo, Oct. 9 (Jiji Press)--New economic revitalization minister Ryosei Akazawa is eager to step up efforts to convert Japan into a growth-oriented economy and fully eliminate deflation.

In a recent interview with media outlets, he also underlined his resolve to attain the government's target of raising the weighted average of minimum wages across the country to 1,500 yen per hour in the 2020s.

In the administration of Prime Minister Shigeru Ishiba launched Oct. 1, Akazawa also serves as economic and fiscal policy minister and minister in charge of preparations to establish a disaster management agency.

Akazawa said he cannot deny the possibility that Japan may return to deflation.

After a virtuous cycle of wages and prices began under former Prime Minister Fumio Kishida's administration, the Ishiba administration "will accelerate measures to realize a growth-oriented economy driven by wage hikes and investments," Akazawa also said.

[Copyright The Jiji Press, Ltd.]