Japan mulling 2025 goal for fiscal consolidation
Jiji -- May 04
The Japanese government is considering setting a goal of turning the primary budget balance to a surplus around fiscal 2025, informed sources said on Wednesday.

The goal will be discussed at Prime Minister Shinzo Abe's Council on Economic and Fiscal Policy for inclusion in the country's new fiscal consolidation plan, due out as early as next month.

A primary budget surplus means no reliance on new bond issues to fund policy measures. Previously, the goal of achieving a surplus was set at fiscal 2020, which ends in March 2021.

The government abandoned the fiscal 2020 target last autumn after Abe unveiled plans to use part of the additional financial resources from a consumption tax increase in October 2019 for such purposes as making education free of charge.

Abe's plans, announced just before a parliamentary election, made it harder to curb debts.

News source: Jiji
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