Japan govt is considering lifting FY2022 economic growth forecast

The Japanese government is considering raising its economic growth forecast for fiscal 2022 to take into account the effects of its record $490 billion stimulus package

TOKYO (Reuters) — The Japanese government is considering raising its economic growth forecast for fiscal 2022 to take into account the effects of its record $490 billion stimulus package, public broadcaster NHK reported on Monday.

In a mid-year review in July, the government projected real gross domestic product (GDP) growth of about 2.2% for the fiscal year starting in April 2022. With the spending package aimed at helping businesses and households weather the pain of the COVID-19 pandemic, it now estimates a tailwind of about 5.6% for real GDP from this fiscal year to next, NHK said.

Japan has lagged other economies in pulling out of the pandemic-induced slump, forcing policymakers to maintain massive fiscal and monetary support even as other advanced nations dial…read more

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Priya Shah

Priya Shah

Im a blogger

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