• Kyodo

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The nation’s economy will stall for the next few years against the backdrop of the planned two-stage sales tax hike, the Organization for Economic Cooperation and Development projects in its biannual report released Tuesday.

The world’s third-biggest economy would see its gross domestic product growth slow to 1.5 percent in 2014 and 1.0 percent in 2015, adjusted for inflation, following a 1.8 percent expansion in 2013, the OECD said in its report.

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