World News

Japan finance minister watching coronavirus impact, to ensure fiscal policy steps

TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Tuesday he would ensure that fiscal policy steps would be taken as needed to respond to the spreading coronavirus outbreak while closely monitoring its impact on the economy.

Aso told reporters after a cabinet meeting that economic fundamentals that supported domestic demand were holding steady although slowing global growth was affecting the manufacturing sector.

Aso made the remarks when asked about government data out on Monday that showed Japanese economy had suffered its deepest contraction since 2014 in the October-December quarter.

(Reporting by Tetsushi Kajimoto; Editing by Chris Gallagher)