FXStreet (Bali) - Japanese Prime Minister Abe crossed the wires over the weekend, noting that deflation has been defeated, Japan Today reports. Main headlines “This year will be one in which Japan will shine on the global stage and demonstrate its leadership,” Abe said in a New Year address. Abe said 2016 will be the year to begin realizing his government’s new goals, including the expansion of Japan’s nominal gross domestic product to 600 trillion yen ($5 trillion) from 490 trillion yen by around 2020 and raising the fertility rate from 1.4 to 1.8 by around 2025 to tackle the country’s declining birthrate and graying population. “We will face whatever challenges occur. We will make this year a year to face the future boldly,” he said. Abe also expressed confidence about the effects of “Abenomics”—the economic policies his government has implemented since its launch in December 2012. “Japan is no longer in deflation. We were able to bring about this situation in three years,” he said. For more information, read our latest forex news.