Japan won't meet its fiscal discipline target in 2020

Tokyo

JAPAN'S government said on Wednesday that it will not achieve its target of returning to a primary budget surplus in fiscal 2020, suggesting further steps will be needed to boost revenue and lower spending.

The target is considered an important checkpoint for Japan as it seeks to reduce a debt/GDP (gross domestic product) ratio that is the worst in the industrialised world, with public debt standing at around twice the size of its economy.