Japan government's initial budget for fiscal 2019 first to top ¥100 trillion
The government's initial budget for fiscal 2019 is set to be the first ever to top ¥100 trillion ($885 billion), reflecting a sweeping fiscal stimulus package designed to underpin the economy after a consumption tax hike next year, government sources said Wednesday. With swelling social ...
Government projects Japan far from achieving fiscal health goal by 2025
The government is far from achieving its target of running a primary balance surplus in fiscal 2025 despite increased tax revenue, the government's latest longer-term projections showed Monday. According to the projections, the government will run a primary balance deficit of at least ¥2.4 trillion ...
Japan's fiscal health goal likely to be pushed back another five years to 2025
The government is eyeing fiscal 2025 as its new target year to achieve a primary balance surplus, delaying the fiscal health goal by another five years, sources said Wednesday. Prime Minister Shinzo Abe's administration has already given up on its previous target year of fiscal ...
10 years on, Osaka fiscal reform started by Toru Hashimoto remains unfinished
Since Toru Hashimoto was elected Osaka governor in January 2008 and subsequently launched a reform drive, the prefecture has turned its debt-heavy public finances around to achieve budget surpluses. Some experts, however, downplay the recovery as superficial and suggest there is a long way to ...
Government has no plans to issue deficit bonds to fund planned stimulus package: Suga
Chief Cabinet Secretary Yoshihide Suga rules out the issuance of deficit bonds to fund an economic stimulus package planned for the autumn, but hints at the use of construction bonds.
Tax revenue collected by the central government in fiscal 2015 totaled around ¥56.28 trillion, government sources said, falling short of estimates as corporate tax revenue was reduced by the effects of a firming yen. For the past year to March 31, corporate tax revenue totaled ...
Government projects larger primary deficit of ¥6.5 trillion in fiscal 2020
The government is expecting a bigger than predicted primary deficit of ¥6.5 trillion ($55.6 billion) in fiscal 2020, reflecting the effects of a planned exemption of food items from a sales tax hike, Cabinet Office estimates showed Thursday. The latest estimates show Japan needs to ...
Japan's medical expenses in the year to March 2015 are certain to hit a new high above ¥40 trillion ($332 billion) on the back of the nation's graying population, health ministry data showed Thursday. Spending is likely to set a record for the 12th straight ...
Spending cap likely needed if Japan is to meet fiscal reform goal
After achieving growth of an annualized real 3.9 percent in the first quarter of 2015, the government may argue it is on track to attain its fiscal reform goal through fiscal 2020. But the plan — which relies heavily on economic growth — could increase ...
The government is still on track to miss a key fiscal rehabilitation goal in fiscal 2020, government sources said Wednesday. The sources said the government is set to leave its projection for missing the goal unchanged in its upcoming medium- to long-term fiscal estimate. Though Japan ...
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, ...
The state of Japan's public finances is "extremely severe," Finance Minister Taro Aso said on Thursday, vowing to do whatever is needed to boost revenues and cut expenditures to restore the country's fiscal health. Aso, who is also deputy prime minister, said Tokyo will stick ...
