Japan’s Aso: Economy still in severe situation

The Japanese economy is still in a “severe situation” as a result of COVID-19, Japanese Finance Minister Taro Aso said on Monday.

Aso added that because of the pandemic Japanese firms will need more funding as the end of the year approaches.

The minister’s comments come after data showed Japan’s retail sales increased 6.4% in October, but industrial production only rose 3.8% in the same period, coming in below expectations.

Breaking the News / VP