The government's 2013 white paper on the economy and finance, issued by the Cabinet Office on Tuesday, said that the Japanese economy, which has suffered nearly two decades of deflation, "has shown signs of turning around" as it has picked up since the beginning of this year.
The report attributed the improvement in economic conditions to the economic policy of the Abe administration, which has been characterized by large spending on public works projects and the Bank of Japan's massive monetary easing.
The white paper is tinged with praise for the economic policy of Prime Minister Shinzo Abe. Its analysis should be read carefully. More attention should be paid to the negative aspects of the current administration's economic policy.