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© KYODOJapan likely to miss FY2025 fiscal discipline goal
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© KYODO
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plasticmonkey
Necessitated by an idiotic consumption tax of 10% which has disproportionately screwed the middle and lower classes.
sakurasuki
Japan already have record budget every year, now Japan is overbudget?
So expenditure is exceeding budget that already massive?
JeffLee
Did the writer, or anyone else for that matter, stop and consider who receives the interest payments and what they do with all that money? If they did, they might realize why Japan is able to run a huge national debt without putting any strains on the system.
fxgai
That’s ok.
We knew. That’s why gold is near record highs in yen terms.
fxgai
A 10% tax is not hurting anyone, and it ensures that everyone contributes in proportion to their propensity to consume to the operation of the essentials of society.
It’s not a 55% tax rate, like other taxes that could be mentioned.
smithinjapan
"The government of Prime Minister Shigeru Ishiba now forecasts a 4.5 trillion yen deficit in the primary budget balance for fiscal 2025, a reversal from the 800 billion yen surplus projected in July last year."
Just a bit of a difference.
"Japan's fiscal health is the worst among advanced economies, with its total debt more than twice the size of the economy."
Yup. And it'll be outside of the top-ten world economies within the decade, if not the year.
P_C
oops, my bad ;-
come on only a delta of let's say 600%, anyone could make such a trivial error.
fxgai
They were only wrong because they opted to blow out the primary balance. (They weren’t wrong because they estimated poorly.)