• Kyodo


Prime Minister Yoshihiko Noda pledged fiscal restoration but has apparently failed to match words with deeds in his new budget, which signals the need for more government spending amid a shortage of tax revenue.

While Noda fulfilled some of his self-imposed austerity goals under the initial fiscal 2012 budget, analysts doubt the significance of the achievements, and the situation is only adding to widespread concerns about Japan’s fiscal health, which is worse than some of the countries at the center of the European debt crisis.

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