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PM Abe Says G-8 Welcomed Japan's Economic Policies

Tuesday, 18 Jun 2013 | 8:51 PM ET
Prime Minister of Japan Shinzo Abe
Getty Images
Prime Minister of Japan Shinzo Abe

Japanese Prime Minster Shinzo Abe said on Tuesday G-8 leaders expressed strong support for his "Abenomics" economic policies and heard no concerns about Japan's super easy monetary easing.

"I had a chance to explain (Japan's) economic policy, and G-8 leaders showed strong expectations and high appreciation," Abe told a news conference after the G-8 summit meeting in Northern Ireland.

(Read More: Market Strife Puts Japan Policies in a Flux)

Abe is hoping to jolt the economy out of its two-decade long slumber with his "Abenomics" policy mix of unprecedented monetary stimulus, extra budget spending and pro-growth policies.

However, the Bank of Japan's aggressive monetary easing has provoked criticism among some policymakers that Tokyo was deliberately driving down the value of its currency to give its exporters a competitive advantage.

(Read More: Japan Approves Growth Steps, Promises to Do More After Polls)

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