Over two-thirds of Japanese do not feel the effects of Abenomics

5 years ago by in Japan, Politics

Around 70 percent of Japanese people feel no effect from “Abenomics”, according to a recent poll, despite the international acclaim for Shinzo Abe’s economic project.

A survey carried out this weekend by Kyodo News showed 73 percent of the interviewed people say they do not feel any benefit from the economical measures that have sent the yen plunging and the stock market soaring, while around 25 percent said they have actually felt the effects of Abenomics.

Abe will probably be surprised by the poll’s results, as he recently returned from Davos, where he participated at the World Economic Forum, reporting the progress Japan’s economy has made due to his economical programme.

“Japan’s economy is just about to break free from chronic deflation,” Abe said, according to the international press. “This spring, wages will increase. Higher wages, long overdue, will lead to greater consumption.”

However, more than 66 per cent of respondents said they do not expect to see their salary rise, against 28 per cent who expected a bump, Kyodo said.

For the survey, 1,421 households with eligible voters were contacted by phone, of which 1,016 responded.