Japan may benefit about 4 billion yen from the global decline in oil prices, Minister of Economic Revitalization Akira Amari announced today. The head of the ministry noticed that is worth taking the opportunity to improve the current situation, as it is obvious that this is one of the few ways to recover the economy and pass through the deflationary period. The government thinks that Japan benefits greatly from the decline in black gold prices and yen weakening. Japan's leaders hold the view that the current conditions may get the economy from the deflationary gap. The minister is also convinced that the national currency weakening has a positive impact on the export-oriented Japanese companies, in spite of the fact that it leads to the imports value increase resulting in the decline of the consumption rate. Amari considers the fall of oil prices makes the electrical energy more accessible for individuals in Japan and cuts the cost of energy. Unlike Amari, Minister of Economy, Trade and Industry Yoichi Miyazawa suspects the negative impact of yen weakening and suggests the government to implement measures to support the small-scale companies. Miyazawa underlined also that the Japanese authorities are investigating the potential impact of rubble collapse on the Japan's economy.
