Japan prioritizes fiscal health in policy draft, no target year given

Japan on Wednesday stuck to its pledge of restoring fiscal health, the worst among developed nations, but made no mention of a target year for achieving the goal.

A draft policy blueprint for fiscal 2023 came as the debt-ridden nation is set to substantially increase defense and child care spending in the years ahead.

While Japan has been mired in a massive fiscal deficit, the government remains committed to regaining its fiscal health and will check on the progress of economic and fiscal reform in the 2024 business year, according to the draft plan presented at a government meeting on Wednesd...