Japan’s Kihara: Government needs to increase focus on achieving wage growth

Japanese Deputy Chief Cabinet Secretary Seiji Kihara said on Wednesday, the country’s government will need to prioritize higher wages in its economic policy next year.

Key quotes

"The biggest challenge for Japan's economy is a lack of wage growth. Unless wages rise, consumption won't pick up and companies won't increase investment."

"The government will increase its focus on achieving wage growth. This is particularly important because prices are rising."