Fumio Kishida Announces Withdrawal from Party Leadership Race
Japanese Prime Minister Fumio Kishida has officially declared his decision to withdraw from the upcoming party leadership race, signaling an end to his tenure as head of government. At a press conference, Kishida stated, "The most obvious first step to demonstrate that the LDP will change is for me to step aside. I will not run in the next presidential elections of the party." This decision comes as the ruling Liberal Democratic Party (LDP) prepares for an internal election in September to select a new leader, who will subsequently assume the role of Prime Minister.
Declining Popularity Amidst Political Scandals
Kishida, who has been in office since October 2021, has faced significant challenges during his tenure, including a drop in popularity attributed to rising inflation and ongoing political-financial scandals within the LDP. Recent polls by NHK reveal that Kishida's approval rating has stagnated at approximately 25%, a stark reflection of the public's dissatisfaction with his government's handling of economic issues. The LDP, which has maintained power in Japan since 1945, is now at a crossroads as it seeks to regain the trust of the electorate.
The Race for Succession Begins
With Kishida's announcement, the race for his succession is heating up, with several prominent figures emerging as potential candidates. Among those speculated to succeed him are Digital Minister Taro Kono and Economic Security Minister Sanae Takaichi. Additionally, former LDP heavyweight Shigeru Ishiba and former Environment Minister Shinjiro Koizumi are also being considered. As Japan grapples with economic recovery post-COVID, with a GDP decline of 0.7% in the first quarter of 2024, the new leadership will need to navigate these complex challenges while restoring public confidence.
- Kishida's decision to step down comes at a time when Japan's economy is facing significant hurdles, including the impact of rising energy costs due to geopolitical tensions, particularly following Russia's invasion of Ukraine. In response to these challenges, Kishida had previously announced a substantial recovery plan worth **17,000 billion yen** (over **100 billion euros**) aimed at alleviating inflationary pressures on Japanese households. The upcoming leadership election will be crucial as the LDP seeks to present a united front and restore its image amid ongoing scrutiny and public discontent.
