(WSJ) My highest priority as Japan’s prime minister remains the economy… Make no mistake, Japan will emerge from economic contraction and advance into new fields and engage in fresh challenges…Some have said that Japan’s structural reforms—what I call the “third arrow” of Abenomics, alongside the first two “arrows” of monetary and fiscal policy—are at a standstill and that wage increases aren’t keeping up with price increases. But there is no reason for alarm. We remain on the path toward a revitalized Japan we began in December 2012…My cabinet and I will do all we can to implement our growth strategy and economic reforms and press forward with the second stage of Abenomics.
(Reuters) Japanese Prime Minister Shinzo Abe said on Friday he aims to reform the country’s $1.2 trillion public fund as soon as possible. “I believe GPIF reforms are extremely important …. I would like to review its portfolio as soon as possible,” Abe told business leaders in a speech. Abe also said he aimed to decide on whether to proceed with a plan to raise the sales tax to 10 percent from eight percent by the end of the year, after carefully examining economic conditions. “We just cannot miss the chance of beating deflation. We need to watch carefully how the economy has recovered in July, August and September (before making the decision),” Abe said.