• Reuters, Kyodo

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Japan kept unchanged its timing for balancing the primary budget on Friday, but expects to see a much smaller excess than previously thought when it hits a budget surplus, underlining the government’s struggle to rein in massive public debt.

Prime Minister Shinzo Abe’s government stuck to its forecast of achieving a budget surplus by fiscal 2027, but expects it to be slimmer due to a downward revision to its outlook for economic growth and tax revenues since previous projections made in July.

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