The Organization for Economic Cooperation and Development has revised upward its 2014 growth forecast for Japan.
In its latest report issued on Tuesday, the OECD said Japan's gross domestic product will grow 1.5 percent next year. That's up slightly from the projection of 1.4 percent the organization made 6 months ago.The OECD cites growing exports against the backdrop of the weaker yen, fiscal measures and recovering personal spending as the reasons for the upgrade.
The OECD expects that growth will slow to one percent in 2015, mainly because of the planned consumption tax increase.
It says regaining fiscal health is the top priority for Japan because its public debts account for 230 percent of GDP.
Source: NewsOnJapan
The OECD expects that growth will slow to one percent in 2015, mainly because of the planned consumption tax increase.
It says regaining fiscal health is the top priority for Japan because its public debts account for 230 percent of GDP.
Source: NewsOnJapan
