Shinzo Abe: Japan's new prime minister
Shinzo Abe, the leader of Liberal Democratic Party (LDP), has been named as the new Prime Minister of Japan by country’s lower house of Parliament.
The LDP which was formed in 1955 ruled the country for decades. The party’s stand is nationalist, conservative and pro big business. It ousted the previous government of outgoing PM Yoshihiko Noda of Left-leaning Democratic Party of Japan.
Japan is facing several challenges like slow economy, increasing national debt, and devastating earthquake, tsunami and nuclear crises which had hit the country in 2011.
- Regarding economy, Japan is facing a serious deflation (fall in prices) and it has set a priority to take the inflation to a 2% mark.