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In Japan after the announcement of a recession, early elections were announced
Japanese Prime Minister Shinzo Abe will dissolve parliament and hold early elections. He said this today, the leadership of the ruling Liberal Democratic Party. On the eve it became known that the economy was in a state of recession
The press conference, which will announce the holding of early parliamentary elections in Japan two years before the scheduled date, will begin in 19: 10 in Tokyo Time (13: 10 Moscow time), reports Reuters with reference to the NHK channel. Voting will be scheduled for December 14.
Abe also intends to postpone the second phase of the introduction of 10% sales tax by one and a half years. Earlier it was planned to introduce it from October 2015.
On Monday, data were published indicating that Japan’s economy contracted for the second quarter in a row, which meant a technical recession. Reuters notes that the April increase in sales tax from 5 to 8% affected the decrease in GDP.
Abe, who took over as prime minister in December 2012, has pledged to revitalize the Japanese economy with a system of measures called abenomics. It included easing monetary policy, fiscal stimulus, and reform of the state pension investment fund.
Reuters notes that Abe’s decision on early elections was dictated by his desire to get a new premiership until his ratings fell below. Currently, about half of the voters approve of his activities, which is considered strong support by Japanese standards.