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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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silver touch technologies limited (silvertuc) stock rallies ✌️【Expert Guidance】✌️ Expert predictions with real-time stock, futures, and metals, energy data to help you quickly recover and grow. 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.

silver touch technologies limited (silvertuc) stock rallies ✌️【Expert Guidance】✌️ Real-time India stock and global stock indices, futures prices, and data to help you make efficient investment decisions. Attitudes toward marriage and starting families have also shifted in recent years, with more couples putting off both during the pandemic.

silver touch technologies limited (silvertuc) stock rallies ✌️【Expert Guidance】✌️ Expert predictions with real-time stock trend analysis to help you quickly select high-potential stocks and grow capital. 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.

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