Japanese Economy Minister Yasutoshi Nishimura said on Monday that they will compile a comprehensive stimulus package that includes all available means to support the economy.
The statement follows today’s data release as follows:
Japan’s Q3 GDP preliminary 5.0% QoQ vs. expected 4.4%, yen unchanged
Nishimura explained that Japan’s output gap likely narrowed from April-June but is still seen exceeding 30 trillion yen ($287 billion), which needs to be taken into account in compiling another stimulus package.
“We can’t make up for all of the output gap just with public works spending. We also need to spur private investment. But the size (of the output gap) is something we’ll look at” in compiling the new spending package, he told a news conference.
Nishimura said the government will shortly release new estimates of the output-gap, taking into account Monday’s July-September gross domestic product (GDP) figures.
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