Japan retains projection of attaining fiscal health in FY 2029

The government said Thursday it will achieve fiscal health by the end of fiscal 2029, keeping its previous estimate despite growing concerns about further deterioration amid the resurging coronavirus pandemic. Japan’s primary balance — tax revenue minus expenses other than debt-servicing costs — is expected to turn black in the year through March 2030 with a surplus of about 300 billion yen ($2.9 billion), the Cabinet Office said in its most optimistic scenario, maintained from July last year. The projection, released after a meeting of the government’s Council on Economic and Fiscal Policy,…

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HEDGE accordingly