Japan Govt Estimates FY 2021 Economic Growth at 4 Pct

Economy

Tokyo, Dec. 18 (Jiji Press)--The Japanese government said Friday that the country's economy is expected to grow 4.0 pct in fiscal 2021 in price-adjusted real terms, an upward revision from a 3.4 pct expansion estimated in July as it adopted a stimulus package earlier this month.

A 4.0 pct expansion would be the fastest growth rate since the economy grew 5.6 pct in fiscal 1990, which ended in March 1991.

The latest estimate is optimistic, however, compared with around 3.5 pct growth projected by private economists. Economic growth may end up short of the government's forecast if consumption and exports fall again amid the coronavirus pandemic.

The government aims to lift gross domestic product in the final three months of fiscal 2021 to the level marked in October-December 2019, before the COVID-19 outbreak, totaling 548 trillion yen on an annualized basis.

In nominal terms, the government expects the economy to grow 4.4 pct in fiscal 2021.

[Copyright The Jiji Press, Ltd.]

Jiji Press