The third pillar of "Abenomics" approved Friday by the Cabinet may have lacked the impact of its two predecessors, but some experts said Prime Minister Shinzo Abe's attempt to revive the moribund economy will hinge on steady execution of all "three arrows."
"The economic and fiscal policies adopted by the Cabinet weren't anything like a different dimension," as Abe prefers to describe his plans for ending deflation and restoring growth, Keisuke Naito, a senior economist at Mizuho Research Institute, told The Japan Times in an interview.
While lauding the government for laying out its intentions from the get-go, Naito said it remains to be seen how bold Abe can be in implementing his package of monetary, fiscal and growth policies.