Japan elects new premier to push economic revival

  • : Coal, Crude oil, Natural gas
  • 20/09/16

Long-time aide of former premier Shinzo Abe, Yoshihide Suga has officially become Japan's new prime minister to steer the country out of an economic recession and the Covid-19 crisis.

Japan's parliament today elected former chief cabinet secretary Suga as the country's 99th prime minister following his landslide victory in an LDP leadership election on 14 September. Abe officially resigned earlier today as the country's longest-serving premier.

Suga has vowed to continue Abe's economic policies to revive the world's third biggest economy, as well as diplomatic policies in the face of growing geopolitical challenges. He has retained most of the key cabinet ministers from the previous administration, including foreign minister Toshimitsu Motegi, finance minister Taro Aso, and trade and industry (Meti) minister Hiroshi Kajiyama, according to new chief cabinet secretary Katsunobu Kato. Kato served as health minister in Abe's government.

Kajiyama's Meti is due to revise the country's energy policy by mid-2021 after the last revision in 2018 highlighted a focus on renewable power. A new round of talks on energy policy direction launched in recent months as the ministry seeks to adjust policies on energy security risks triggered by the Covid-19 pandemic and increased geopolitical uncertainty.

Meti continues to back nuclear power but is mulling scrapping half of the country's coal-fired power generation capacity by 2030 to reduce greenhouse gas emissions.

Shinjiro Koizumi, son of former premier Junichiro Koizumi, is staying on as environment minister for a second term. He has been critical of Japan's support for coal-fired power generation. The government in July toughened conditions on state financing of overseas coal power projects following inter-ministry talks prompted by Koizumi.

Premier Suga has named former defense minister Taro Kono as a new cabinet minister to lead administrative reform. Nobuo Kishi, younger brother of former premier Abe, has replaced Kono as defense minister.


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