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In the first quarter of 2021, the Japanese economy performed worse than expected, particularly due to a slow vaccination campaign

In the first quarter of 2021, the Japanese economy performed worse than expected, particularly due to a slow vaccination campaign

In the first quarter of 2021, from January to March, the GDP of Japan It decreased by 1.3 percent Compared to the previous quarter, and by 5.1% compared to the same quarter in 2020. This is slightly worse than the decrease Analysts predictedBut above all, it is a return to deflation after the growth recorded in the last two quarters of 2020, when the government allowed buildings and businesses to reopen. Experts and analysts attribute the new decline to the restrictive measures that the Japanese government was forced to impose after the increase in coronavirus cases in recent months: In many provinces – Especially in Tokyo – severe restrictions have been imposed that have hurt consumption and the economy.

Experts say this fragile and uncertain economic trend will continue until Japan can control the epidemic with vaccines. However, in the country, only 3.5 percent of the population received at least one dose of the Coronavirus vaccine, and 1.4 percent completed the entire vaccination cycle: one of the worst rates among industrialized countries, and it is especially worrying just two months after the start of the Olympics in Tokyo.

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