Vaccines will hasten return to pre-virus economic path

We now assume that one or more COVID-19 vaccines will be widely available in Japan next year, which suggests that the drag on activity from voluntary social distancing will come to an end. That should give a boost to GDP of around 1% spread over the next couple of years, relative to our previous forecasts. Japan would be one of the developed economies close to its pre-virus path at end-2022

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