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Criticism of so called ’Abenomics‘ has continued since its introduction last November. That's when Prime Minister Shinzo Abe promised bold fiscal1 and monetary2 expansionary policies, to revive the world’s third-largest economy.
It is hoped that the introduction of a comprehensive programme entailing3 fiscal, monetary and structural4 policies - known as the "three arrows" - could jumpstart the economy. However, investment growth is still lagging behind, while small and medium-sized companies find it hard to recover. Imports, especially energy and agricultural products, are also getting more expensive.
Meanwhile, the government’s current interest-servicing burden stands at a massive 21 percent of its revenue, any rise in interest rates could therefore undermine the BOJ’s policies and further strain government finances.
1 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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2 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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3 entailing | |
使…成为必要( entail的现在分词 ); 需要; 限定继承; 使必需 | |
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4 structural | |
adj.构造的,组织的,建筑(用)的 | |
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