(Update) Japan Govt Vows to Put Priority on Raising Wages

   Tokyo, June 13 (Jiji Press)--The Japanese government said Friday that it will put priority on raising wages over cutting taxes to realize a growth-oriented economy.
   In its annual economic and fiscal policy guidelines, the government pushed back its fiscal reform goal to focus on addressing concerns over a possible economic downturn caused by higher prices and U.S. President Donald Trump's tariffs.
   The guidelines are the first under Prime Minister Shigeru Ishiba, who took office in October last year.
   The country needs to shift the focus of its economy from cutting costs to adding high value, Ishiba told a meeting of officials and experts. "We'll work on achieving some 1,000 trillion yen in nominal gross domestic around 2040."
   The government effectively pushed back its target for achieving a primary budget surplus to fiscal 2025-2026 from fiscal 2025, which started last April.

(2025/06/13-19:58)

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