Japan’s Economy Under the COVID-19 Pandemic

Abstract

The article reviews consequences of the COVID-19 pandemic in Japan and state measures to neutralize them. In April 2020 the state of emergency was implemented for the first time. And on October 1, 2021 all restrictions were lifted. During the pandemic, the Japanese economy has experienced several shocks: the largest drop in GDP in post-war history; a sharp increase in unemployment rate; decline in foreign trade; disruption in supply chains; and «failed» Olympic Games. According to forecasts, long-term sustainable growth is possible only in conditions of economic reform (active use of information and communications, and carbon-free technologies)