Japan may attain fiscal health in FY 2027 due to tax revenue rise

Politics Economy

Japan may achieve fiscal consolidation in fiscal 2027, two years earlier than previously estimated, as tax revenue has been rising despite the coronavirus pandemic, the government said Wednesday. Japan's primary balance -- tax revenue minus expenses other than debt-servicing costs -- is expected to turn black in fiscal 2027 with a surplus of about 1.8 trillion yen ($16.4 billion) under the most optimistic scenario, the Cabinet Office said in its biannual projection. The previous forecast released in January said the balance would still be in the red with a 2.8 trillion yen deficit in the fisca...

Kyodo News

Kyodo News