TOKYO - Japan's multi-billion dollar campaign aimed at reviving domestic tourism is ill-timed and not the best use of taxpayer money, said Professor Yutaka Harada, a former central bank board member and vocal advocate of Premier Shinzo Abe's"Abenomics" policies.
"I'm not sure whether fiscal policy is doing the job right," he told Reuters on Monday , criticising Mr Abe's US$16 billion "Go To"tourism campaign to promote travel across the country. The campaign was launched to rescue Japan's tourism industry, which has been hit hard as the coronavirus keeps foreign visitors at home.
Prof Harada joined the BOJ board five years ago as a proponent of Abenomics, a policy deployed in 2012 to end deflation with a mix of bold monetary policy, fiscal measures and structural reforms.
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