Oct. 6 (Bloomberg) -- The yen's weaker value in trade- weighted terms has been one factor supporting Japan's economic growth, Economic and Fiscal Policy Minister Hiroko Ota said.

``The effective exchange rate has fallen to levels of the 1980s, and it's true that this is supporting the economy,'' Ota told lawmakers in parliament in Tokyo today.

Ota added that the economy's expansion has been helped by corporate efforts to eliminate excess debt, capacity and labor, as well as strong growth in the U.S. and Asia.

To contact the reporter on this story: Lily Nonomiya in Tokyo at lnonomiya@bloomberg.net

Last Updated: October 6, 2006 02:55 EDT