June 18, 2013 / 10:16 PM / 4 years ago

PM Abe says G8 welcomed Japan's economic policies

BELFAST (Reuters) - Japanese Prime Minster Shinzo Abe said on Tuesday G8 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 G8 leaders showed strong expectations and high appreciation,” Abe told a news conference after the G8 summit meeting in Northern Ireland.

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.

Reporting by Kiyoshi Takenaka; Editing by Tomasz Janowski

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