ABE ANNOUNCES TAX HIKE DELAY

NHK news 2016
ABE ANNOUNCES TAX HIKE DELAY
Summary
In Japan, a consumption tax hike is postponed. It's scheduled for next April, but it's pushed back by two and a half years. However, it's needed to be approved by the Diet.
Abe hopes that the Japanese economy recovers and China and other emerging markets do also.
What is "Abenomics" ?
The aim of "Abenomics" is the Abe's economic policies to break away from years of deflation and revive the stagnating economy with a “three-arrowed economic booster plan.”
Those are a bold policy of monetary easing, fiscal stimulus through spending on public projects, and a growth strategy that entails structural reform.