Old fiscal rehab jargon stands: Abe

JIJI

Prime Minister Shinzo Abe is set to maintain the country’s current fiscal reconstruction target in relation to the primary budget balance, it was learned Monday.

In a speech to be made June 5, Abe will say he aims to halve the combined primary budget deficit at the central and local governments by fiscal 2015 compared with the fiscal 2010 level and turn the balance around to secure a surplus in fiscal 2020, sources said.

A primary budget surplus means that central and local government revenues other than from bond issues exceed outlays, excluding debt-servicing costs.