Japan’s new prime minister is being advised to set a new fiscal consolidation target once the nation’s budget is balanced. Government adviser Takero Doi suggests considering a budget surplus-to-GDP target to ensure financial stability. This strategy, proposed by Doi, an economics professor at Keio University, would help reduce Japan’s public debt-to-GDP ratio. The primary balance, expected to turn positive in fiscal 2025 after several delays, is crucial for achieving this goal.
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