Japan turns to ‘Suganomics’ — but analysts say the policy will likely continue Abe’s legacy
2020-09-18 09:43:44 source：CNBC
September 17, 2020
Japan’s new prime minister Yoshihide Suga will likely pull out all stops to revive the economy badly hit by the coronavirus pandemic but still continue the policy of outgoing leader Shinzo Abe, analysts said.
Suga was formally voted prime minister by parliament’s lower house on Wednesday, and took the helm as Japan’s first new leader in eight years.
Abe, who resigned in August due to ill health, is known for his economic policies that are collectively known as “Abenomics.” The three-pronged approach is aimed at combating deflation and reviving economic growth with loose monetary policy and fiscal spending, alongside structural reforms to cope with a rapidly aging population.
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