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Abe confident G-8 endorsed his economic policies


Japanese Prime Minister Shinzo Abe expressed confidence Tuesday that his economic policies were endorsed at a summit of the Group of Eight major nations, saying none of his counterparts voiced concerns about them.

Abe, faced with lingering doubts about Japan's future fiscal health and views that his policies could trigger a currency war, said the government plans to release a mid-term fiscal reform plan by summer and that his measures are not aimed at guiding currency rates.

"For the record, I heard no concern about the measures I have been pushing during the G-8 summit," Abe told a press conference in Belfast after the two-day summit at the Lough Erne resort in Northern Ireland.

Abe also said his economic policy received "high expectations and high marks" at the G-8 summit also attended by the leaders of Britain, Canada, France, Germany, Italy, Russia and the United States.

The premier pledged to "beat deflation and restore a strong economy to contribute to global growth."

"A G-8 leader, speaking in general, talked about challenges related to the monetary accommodative policy," Abe said, when asked if countries such as Germany had questioned Japan's financial and economic measures during the summit.

"But I didn't take that as a concern about the financial policies of my country," Abe said.

German Chancellor Angela Merkel is known for her critical stance on Abe's economic policies. Dubbed "Abenomics," they are aimed at fighting deflation and boosting growth through measures including large-scale monetary easing.

Japan's real economy has been improving in a steady manner, Abe said, noting a recent pickup in sectors such as consumption, manufacturing and employment.