Japan brings forward fiscal health projection to FY2026


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So what would a positive "primary balance" actually achieve? Japan already has moderate inflation, low interest rates, a leading global safe-haven currency, and central bank willing and very able to absorb govt debt and turns in current-account surpluses (as the world's biggest creditor nation) year after year. So what's the point of this voodoo concoction, beyond mere political posturing?

the fiscal 2025 target could "come into sight" if the country streamlines expenditure

Yeah, let's watch them slash the surging military and police budgets. Just kidding. They won't do that.

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When have Japan's predictions been accurate? They'll prob overstate figures like they did with the GDP, or hide reality like they have for unemployment and corona.

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In fiscal 2022 starting April, the government expects record-high tax revenue of 65.24 trillion yen


Versus record initial budget expenditure starting from 105 trillion a year, Japan’s finances are getting worse, even if the miracle of their forecast of achieving a primary surplus (which is a mere half-way step towards fiscal health) occurred.

Even if Japan could balance the budget, with 1,000 + trillion of accumulated debt, it would take a hundred years to pay that back even at a rate of 10 trillion a year. And the current expenditures exceed tax revenues by 40 trillion a year.

Japan ought reform before it is forced to, but likely it won’t reform until it is.

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I do worry about the future of Japan's economy, the lack of tourist numbers recently would have had a massive impact on employment and the budget. I wonder if the tourists will return by 2025?

However, it must be nice to visit some of the tourist spots without being elbow to elbow with other visitors!!!

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