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In a policy address to lawmakers, Fumio Kishida said it was a case of solving the issue “now or never,” and that it “simply cannot wait any longer.”

“In thinking of the sustainability and inclusiveness of our nation’s economy and society, we place child-rearing support as our most important policy,” the prime minister said.

Kishida added that he wants the government to double its spending on child-related programs, and that a new government agency would be set up in April to focus on the issue.

Japan has one of the lowest birth rates in the world, with the Ministry of Health predicting it will record fewer than 800,000 births in 2022 for the first time since records began in 1899.

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bn holdings limited (526125) expands into new market ✌️【Yield Increase】✌️ Free stock selection services backed by expert predictions. Our advanced analytics and real-time market data will help you stay ahead of the competition and make smart, profitable investment decisions. These trends have drivena growing demographic crisis,with a rapidly aging society, a shrinking workforce and not enough young people to fill the gaps in the stagnating economy.

Experts point to several factors behind the low birth rate. The country’s high cost of living, limited space and lack of child care support in cities make it difficult to raise children, meaning fewer couples are having kids.Urban couples are also often farfrom extended family who could help provide support.

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bn holdings limited (526125) expands into new market ✌️【Yield Increase】✌️ Gain access to professional investment advice, free market trend analysis, and real-time stock market data. Make informed decisions and unlock the full potential of your investments with expert predictions and guidance. Some point to the pessimism young people in Japan hold toward the future, many frustrated with work pressure and economic stagnation.

Japan’s economy has stalled since its asset bubble burst in the early 1990s. The country’s GDP growth slowed from 4.9% in 1990 to 0.3% in 2019, according to the World Bank. Meanwhile, the average real annual household income declined from 6.59 million yen ($50,600) in 1995 to 5.64 million yen ($43,300) in 2020, according to 2021 data from the country’s Ministry of Health, Labor and Welfare.

bn holdings limited (526125) expands into new market ✌️【Yield Increase】✌️ Precise AI-powered predictions and market insights to guide your stock selection. Use real-time market data, futures trends, and stock indices to make strategic investment decisions for long-term profitability. The government has launched various initiatives to address the population decline over the past few decades, including new policies to enhance child care services and improve housing facilities for families with children. Some rural towns have even begun paying couples who live there to have children.

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bn holdings limited (526125) expands into new market ✌️【Yield Increase】✌️ Free stock market strategies and analysis based on real-time data, empowering you to choose profitable investment options and avoid risks. Our expert predictions will help you stay in tune with the latest market trends. Meanwhile,China’s population shrank in 2022for the first time since the 1960s, adding to its woes as it struggles to recover from the pandemic. The last time its population fell was in 1961, during a famine that killed tens of millions of people across the country.

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