Economic policy

Ex-PM Abe pushes to influence key economic policy directions

Policy

Tokyo, June 6 (Jiji Press) — Former Japanese Prime Minister Shinzo Abe is working to influence the government’s basic annual economic and fiscal guidelines in the areas of fiscal policy and defense spending.

Fumio Kishida, the incumbent prime minister who took office last October, is under pressure to change the so-called “honebuto” guidelines to please Abe, who holds power as leader of the Liberal Party’s largest faction. ruling Democrat and wields influence among conservative LDP lawmakers.

The government plans to adopt the guidelines at a cabinet meeting on Tuesday.

Abe is particularly interested in increasing Japan’s defense budget.

Kishida, meeting with US President Joe Biden in late May, pledged to “significantly increase” the Japanese government’s defense spending. But he avoided specifying how much spending should be increased so as not to strain relations with Komeito, the LDP’s coalition partner, which is cautious about rapidly building up Japan’s defense capability.

[Copyright The Jiji Press, Ltd.]

Jiji Press