By Leika Kihara

TOKYO, Reuters – Haruhiko Kuroda, Bank of Japan Governor, expressed confidence Monday that the country will recover from the effects of the coronavirus epidemic in the coming months because of dramatic improvements in vaccination.

He said that he was certain the Japanese economy would recover from the COVID-19 impact in the coming months and be on a growth and recovery phase within the next few months,” at the Paris Europlace forum.

Kuroda spoke before reading from a prepared talk on green finance. This demonstrates the BOJ’s optimism about the third largest economy in the world.

Next meeting of the BOJ is scheduled for December 16-17. The BOJ is expected to maintain monetary stability and could decide to extend pandemic relief lending programs beyond the March 2022 deadline.

Japan is not as strong in recovering from the effects of the pandemic.

While there are hopes for a recovery in consumer consumption following the lifting of curbs on Sept. 30, supply shortages and production disruptions have weighed heavily on an export-reliant economy.

Japan’s fragil recovery has prompted concerns to prompt the government to announce a record $490billion spending package. This is in direct contravention of a global trend toward withdrawing crisis-mode stimulus measures.