Japan’s Cabinet to OK new Growth Strategy to Invigorate Businesses

Tokyo, June 24 (QNA) – Japan’s Prime Minister Shinzo Abe’s Cabinet is set to endorse on Tuesday its revamped economic growth strategy and longer-term policy blueprint including proposals that it believes will prop up the corporate sector and help boost Japanese share prices.

In the strategy, Abe’s government will pledge to promote deregulation in the farm, employment and medical areas that have been criticized as preventing the world’s third-biggest economy from beating deflation for the past nearly two decades, according to (Kyodo) news agency.

Skepticism, however, is growing about whether many of the proposals can be implemented, with protests from the agriculture and health-care sectors that have long been protected by the so-called “rock-hard regulations.” (QNA)

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