Japan Likely to Miss Primary Budget Surplus Target in Fiscal 2025

   Tokyo, Jan. 17 (Jiji Press)--The Japanese government said Friday that it is expected to miss its goal of achieving a primary budget surplus in fiscal 2025 mainly because of increased spending on economic measures.
   The government said that the country is likely to post a primary budget deficit of some 4.5 trillion yen at the central and local governments combined in the year that starts in April, compared with a surplus of about 800 billion yen estimated in July 2024.
   The primary budget balance is an indicator of how much government spending on policies such as social security and public works is financed by tax and other revenues without relying on debt.
   Japan has been running a primary budget deficit since fiscal 1992. Since 2001 when the government set a goal of achieving a surplus, it has repeatedly pushed back the target date.
   Prime Minister Shigeru Ishiba told officials that the government will work on policies focusing on boosting the country's growth potential to achieve a primary budget surplus at an early date.

(2025/01/17-20:46)