TOKYO : Japan could achieve a primary budget surplus in fiscal 2026 assuming a rosy scenario for economic growth, the government projected on Friday, but added deficits could continue for a decade under a more modest recovery.
The government has set a goal of achieving a primary budget surplus by fiscal 2025, which it said could become"in sight" if policymakers continue efforts to rein in social security spending to cope with an ageing society. Its most recent reiteration of the goal included a caveat that it would be reviewed, when the revised fiscal projections are issued, to account for the fallout from the pandemic.
Kishida, long known as a fiscal hawk, has been prioritising economic recovery from the COVID-19 crisis over long-term fiscal reforms since he took office in October.
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