What was the main objective of Abenomics?

The main objective of Abenomics was to halt the vicious cycle of deflation. This economic policy framework, introduced by Japan's Prime Minister Shinzo Abe, aimed to address Japan's prolonged period of stagnation characterized by deflation, low growth rates, and an aging population. By implementing aggressive monetary easing, fiscal stimulus, and structural reforms, Abenomics sought to increase consumer spending and investment, thereby pushing inflation upwards to a target of around 2%. Breaking the deflationary cycle was crucial for stimulating economic activity and revitalizing the economy, supporting the notion that a return to positive inflation would encourage spending and investment among consumers and businesses.

While promoting international trade, increasing government spending, and establishing a balanced budget were components of Japan's broader economic strategy, the overarching goal was indeed to combat deflation and restore sustainable growth.