Japan Construction Orders Padded By Up to 5 T. Yen Annually
Newsfrom JapanPolitics Economy
Tokyo, May 13 (Jiji Press)--An expert panel of Japan's infrastructure ministry said in a report Friday that the ministry has padded construction orders made to domestic firms by up to 5.1 trillion yen annually through data tampering.
The overstatement, however, is likely to have had only a minor impact on the country's gross domestic product data, panel chief Yasuto Yoshizoe, professor emeritus at Aoyama Gakuin University, told a press conference.
In December last year, it came to light that prefectural government officials had rewritten survey slips submitted from construction companies across the country at the instruction of the ministry.
As a result, construction orders, a GDP component, had been double-counted and overstated since April 2013.
In the report, the panel also showed how to correct the falsified data and demanded the ministry immediately start the correction work.
[Copyright The Jiji Press, Ltd.]