Japanese Prime Minister Sanae Takaichi dissolved the lower house of parliament on Friday, paving the way for an early election on Feb. 8

The move is an attempt to capitalize on her popularity to help the governing party regain ground after major losses in recent years, but it will delay parliamentary approval for a budget that aims at boosting a struggling economy and addressing soaring prices.

Takaichi, elected in October as Japan’s first female leader, has been in office only three months, but she has seen strong approval ratings of about 70%.

Takaichi’s Liberal Democratic Party could still face some challenges as it reels from a series of scandals about corruption and the party's past ties to the Unification Church. But it's not clear if the new opposition Centrist Reform Alliance can attract moderate voters, while opposition parties are still too splintered to a pose a serious threat to the LDP.