Japan eyes smaller primary deficit, misses FY 2025 surplus target
Newsfrom JapanPolitics Economy
Japan’s primary deficit will likely be 1.1 trillion yen ($7.6 billion) in fiscal 2025, smaller than the 1.3 trillion yen estimated earlier, but the heavily indebted nation will still miss its goal of turning a surplus that year, the government said Monday.
The new forecast is based on the scenario that the economy will grow 3 percent in nominal terms and 2 percent in real terms over the coming years, with the fiscal rehabilitation target likely met in fiscal 2026 with a 3.1 trillion yen surplus.
The smaller deficit for fiscal 2025 largely reflects spending reforms despite a planned income and ...