Japan govt eyes FY2016 economic growth of nominal 3.1%: sources
[TOKYO] Japan's government is eyeing economic growth of a nominal 3.1 per cent and real 1.7 per cent as part of its macroeconomic projections for the next fiscal year that starts in April, government sources told Reuters on Wednesday.
The projections, due to be approved by the cabinet next week, will be used to calculate the government's draft annual budget for next fiscal year.
The government had previously estimated nominal growth of 2.9 per cent and inflation-adjusted real growth at 1.7 per cent for fiscal 2016. The government is counting on a pickup in private consumption on the back of rising corporate profits to accelerate growth in the coming fiscal year.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
S&P downgrades Israel rating on heightened geopolitical risk
‘We have our jury’: panel selected for Trump criminal trial
UK wage growth and services inflation too high for rate cut, BOE’s Greene says
US to reduce licensing by 80% for UK, Australia to boost Aukus
IMF tells Asian central banks not to follow Fed too closely
UN chief warns Mideast on brink of 'full-scale regional conflict'