Tokyo to miss 2020 goal of primary budget surplus

Tokyo

JAPAN'S government said on Tuesday that, even under its most optimistic forecasts, it still expects to miss its goal of returning to a primary budget surplus in fiscal 2020 as tax revenue grows slightly less than expected.

The forecasts, approved by the government's top advisory panel, also showed the ratio of debt to nominal gross domestic product (GDP) is expected to fall faster than previously forecast as economic growth picks up pace.

The figures could add to speculation that the government will phase out the primary budget goal and focus more attention on the debt/GDP ratio because this is easier to lowe…