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 ...
Tokyo pushes surplus goal forward to 2025 fiscal year in latest economic policy outline
The move could further fuel concerns over the long-term fiscal soundness of the already debt-ridden national coffers.
Growth prioritized over fiscal health in government's draft economic plan
The Japanese government said Tuesday it is preparing fresh fiscal stimulus to ensure that an upcoming tax hike does not stall the economy, a move that has sparked concerns that the country is putting off improving its tattered finances. According to a draft policy plan ...
Japan considers scrapping social spending cap, casting doubt on its ability to tame the deficit
Japan looks set to surrender one of its most effective tools for curbing social spending as aging pushes up health, pension and elder care costs. Key advisers to the Finance Ministry recently dropped a recommendation to cap annual increases in social spending at ¥500 billion, ...
Japan's latest economic road map focuses on investment in human resources, retains fiscal goal
The government endorsed a plan Friday to prioritize investment in human resource development to buttress Japan's economic growth and improve its tattered finances. Japan will maintain its pledge to achieve a surplus in the primary balance by fiscal 2020, while the government's annual economic policy ...
2020 goal for fixing Japan's finances a tall order
Japan’s goal to restore its fiscal health is still far off amid prospects for tepid economic growth and swelling spending on health, pensions and defense.
The government is likely to project a deteriorating primary balance deficit in fiscal 2018 after delaying the second stage of a consumption tax hike, government sources said Friday. The hike, earlier planned for April, will now take place in October 2019. Cabinet Office projections due to ...
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 ...
Abe government to continue efforts to curb rise in social security spending
Efforts to curb rising social security spending and rehabilitate tattered government finances should continue at the same level as the last three years until fiscal 2018, according to a draft of the Abe administration's fiscal and economic policy blueprint. But the draft fails to set ...
The Diet enacts a record ¥96.34 trillion budget for fiscal 2015 to achieve economic recovery while pursuing fiscal rehabilitation.
The government will start working on a new fiscal rehabilitation plan this month after Prime Minister Shinzo Abe gutted the previous one by pausing the doubling of the consumption tax last year, sources close to the matter said. The plan will again put emphasis on ...
Abe needs more stimulus to raise sales tax, adviser Itoh says
The administration should consider a supplementary budget this year and will need to add stimulus for the economy to weather the planned increase in the consumption tax in 2015, according to Motoshige Itoh, a member of an advisory panel to Prime Minister Shinzo Abe. "The ...
