Kishida's Commitment to Economic Reforms: Wage and Investment Growth Essential

Japanese Prime Minister Fumio Kishida emphasized the need to continue focusing on wage and investment growth to fully exit deflation. He highlighted the government's efforts to expand Japan's GDP to 600 trillion yen ($4.10 trillion). Kishida also announced he would not run in the upcoming party leadership race.

Japanese Prime Minister Fumio Kishida stressed the importance of promoting wage and investment growth to steer the nation out of deflation. Speaking on Wednesday, Kishida highlighted his administration's efforts to lay the groundwork for Japan's economic recovery.

Addressing a news conference, Kishida emphasized the urgent need to boost wages and investments to achieve a GDP expansion of 600 trillion yen ($4.10 trillion). He also confirmed his decision to step down as ruling party leader and to refrain from participating in the forthcoming leadership race scheduled for September.

The announcement has significant implications for Japan's political and economic landscape, as the country strives to overcome prolonged economic stagnation.

(With inputs from agencies.)