RTTNews - Wednesday, Japan's Ministry of Finance upgraded its economic assessment for the regional economy. The ministry, thus raised its view for the first time in five years.

The ministry raised the assessment for 10 of the nation's 11 regions. In its latest quarterly report, the ministry reiterated that the conditions in Okinawa remain severe.

In June, the Bank of Japan and the Cabinet office had raised their economic assessment for the second straight month. The BoJ said economic conditions have begun to stop worsening after deteriorating significantly. Meanwhile, the Cabinet Office assessed that the economy has bottomed out as exports and factory output recovered from sharp declines.

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