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Prime Minister Fumio Kishida in the Japanese Parliament
Photo: Franck Robichon / EPA
Japanese Prime Minister Fumio Kishida has announced new measures to combat his country's falling birth rate.
"Our nation is at the crossroads of maintaining its social functions," Kishida said in a speech in parliament.
"When it comes to birth and parenting policies, it's now or never—this is an issue that just can't wait any longer."
The third largest economy in the world after the USA and China has repeatedly tried in recent years to persuade its citizens to have more children with cash bonuses and better social benefits.
Still, Japan remains one of the most expensive countries in the world to raise a child.
This is one of the reasons why, according to official estimates, the number of births fell to a new record low last year: it fell below the 800,000 mark for the first time – a turning point that came eight years earlier than the government had expected.
Only Monaco is older
This is likely to result in a further decline in population in a country where the median age is 49 – the highest in the world, surpassed only by the small city-state of Monaco.
In addition, unlike other industrial nations such as the USA or Canada, Japan does not rely on immigration.
Kishida therefore announced plans to double the budget for child-related measures by June.
As early as April, a new government agency for children and families is to be set up to deal with this issue.
According to the YuWa Population Research Institute, Japan is the third most expensive country to raise a child.
The only countries ahead are China and South Korea, which are also experiencing population declines.
These are worrying signs for the world economy, since these three countries are among the pillars of the global economy.
In China, the population fell last year for the first time since 1961, the last year of the great famine.
col/Reuters
