19-January-2022
Economy News
 
Japan govt to advance timeframe for balancing budget to FY2026: Report
14-Jan-2022

Japan's government will estimate that its primary budget would be balanced in fiscal 2026, one year earlier than its previous projection made about six months ago, two sources with knowledge of the matter told Reuters. The revised projection would assume a scenario for robust economic recovery from the COVID-19 crisis and higher tax revenue, said the sources who requested anonymity because the new estimate is being finalised on Friday. Separate from this projection, the government has set a goal of achieving a primary budget balance, excluding new bond issuance and debt servicing costs, by fiscal 2025 - a key gauge of diagnosing a country's fiscal health. But the target has been pushed back several times due to a delay in fiscal reform.

News Source:- https://www.business-standard.com/article/international/japan-govt-to-advance-timeframe-for-balancing-budget-to-fy2026-report-122011300567_1.html