Japan coordinating G7 members to emphasise on fiscal spending: newspaper

[TOKYO] Making preparations with other governments for a Group of Seven summit next month, Japan has sought to emphasise the role of fiscal spending in countering deepening uncertainty over the global outlook, the Sankei newspaper reported on Monday.

Monetary policy and structural reforms will also be discussed at the May 26/27 summit in Japan, the report said.

Japan is expected to strengthen its own policies to lift an economy that has been flirting with recession including steps to spur consumer spending.

Utilization of a possible extra budget for fiscal year that began this month and an increase in tax revenue will be the main pillars for the new economic strategy, Sankei said.

The government will also assess how the economy responds to determine whether to delay a sales tax increase planned for April next year, Sankei said.

REUTERS