Japan's government has made no mention of a time frame for balancing the primary budget in its draft midyear long-term economic policy roadmap, two government sources with knowledge of the matter have said.
The government has previously pledged to achieve a primary budget surplus, which excludes new bond sales and debt servicing costs, by the end of the fiscal year starting April 2025, which was seen as an elusive target given the state of Japan's public finances.
The budget balancing target has served as a key gauge for the government to finance policy expenditures without relying on debt — as part of efforts to rein in the industrial world's heaviest public debt, which stands at twice the size of Japan's economy.