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Japan’s economy will decline 0.3 percent in 1998 — its first minus growth in 24 years, the Organization for Economic Cooperation and Development said April 8.

The latest forecast is in stark contrast with the previous projection of 1.7 percent growth. “In Japan, the already poor economic situation, as well as the existing weakness of the financial system, have been aggravated by the Asian crisis,” the OECD said in its economic outlook.

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