The Japanese government intends to raise the economic growth forecast

According to a Reuters report, the Japanese leaders plan to improve forecasts for the country’s economic growth in the next financial year. The reason for revising the forecast is the decision to allocate a record amount for supporting the economy and Japanese households. It will amount to $ 490 billion. Given this stimulus package, the country’s GDP could grow by 5.6% in the coming financial year, ready to start in April. Growth was assumed to be only 2.2% in the July forecast of the government of Japan. Prime Minister Fumio Kishida also warned of the possible introduction of more lockdowns due to the proliferation of the new coronavirus strain omicron. All these actions will help improve the national epidemiological situation by shortening the time between vaccinations and revaccinations. Now it takes 8 months. Fumio Kishida also mentioned the inflation topic. He said the government intends to provide tax breaks to companies raised their employees’ wages.

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Arseny Kudrin

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