Economic news

Japan Maintains Estimate for Long-Term Budget Surplus

Japan on Thursday kept its forecasts for an estimated return to a budget surplus in the long-term unchanged, even as the impact of the coronavirus pandemic on the economy and the country’s debt burden remains uncertain.

In its twice-yearly fiscal and economic projections, the government forecasted the primary budget, excluding new bond sales and debt servicing, to achieve a surplus of 300 billion yen ($2.9 billion) in the fiscal year starting April 2029.

That was unchanged from its previous forecast released last July, when it pushed back the projection for achieving the surplus by two years.

($1 = 103.5000 yen)

Reporting by Daniel Leussink; Editing by Edwina Gibbs

Source: Reuters

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