Japan, Ministry of Finance Esano: Leading countries should support demand through policies

The authorities of the leading countries should support the demand, making the appropriate steps in response to a global recession, said Finance Minister of Japan on Monday. "To cope with the global deterioration in the real economy, it is important to support aggregate demand, the world economy through financial and monetary measures in the major industrialized countries of the world," said Minister of Finance and Economy Jos Kaoru at the annual meeting of the Asian Development Bank in Bali, Indonesia.
Comments Jos bring to the forefront of recent efforts by Japan to overcome the stagnation in the economy through massive political action. The Government announced a package of economic incentives in the amount of 57 trillion. yen in April, which supported the new spending and tax cuts at 15.4 trillion. yen. Jos expressed concern about the impact of the current financial instability in the Asian markets.
"While the direct impact of financial crisis remained restrained, in the Asian economies were not invincible to the effects of the deteriorating real economy," said Jos. - The crisis now has some impact on the economies of the region. "
The region was "a center of world economic growth in the last few years, but its growth rate fell to 6.3% in 2008 and is likely to slow further to 3.4% this year, he said.