• Kyodo

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The Abe administration plans to set a medium-term target to achieve its key fiscal reform goal in fiscal 2020, aiming to reduce the ratio of the primary deficit to gross domestic product to around 1 percent in fiscal 2018, sources said Monday.

The medium-term goal, an improvement from a projected primary balance deficit equivalent to 3.3 percent of nominal GDP in the current fiscal year, is aimed at meeting Japan’s international commitment to turn the primary balance into a surplus by fiscal 2020.

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