Lower House approval of the fiscal 2000 budget, a major hurdle in the ongoing 150-day regular Diet session, is expected to give Prime Minister Keizo Obuchi a freer hand in dissolving the chamber for a general election.
But the state of the nation's economy -- believed to be a key factor in Obuchi's decision over election timing -- still appears mixed at best. While the Nikkei average on the Tokyo Stock Exchange continues to hover just below the 20,000 level, the jobless rate remains pegged near its postwar high, and October-December gross domestic product -- to be released soon -- is forecast to mark the second quarterly fall in a row.
The recent scandal over former Financial Reconstruction Minister Michio Ochi -- who was effectively sacked for appearing to suggest to bankers he could relieve pressure from another governmental body's inspections -- may also affect the prime minister's decision as he searches for the best timing for an election, which must be held no later than in October.