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Investing.com -- Japan’s Cabinet Office plans to reduce its fiscal 2025 gross domestic product real growth rate forecast from the approximately 1.2% projected in January, according to a Tuesday report by the Nikkei business daily.
The downward revision will account for the impact of U.S. tariff policies on Japan’s economy, though the new forecast figure was not specified in the report.
Despite the growth outlook reduction, Japan’s government indicated that its primary budget surplus for fiscal year 2026, which begins in April next year, will exceed its January projection of about 2.2 trillion yen ($14.94 billion).
The improved budget outlook is attributed to increased tax revenue, though the government did not provide a specific new estimate.
For the current fiscal year ending in March, the Japanese government still projects a deficit, but it will be narrower than the 4.5 trillion yen deficit forecast in January, according to the Nikkei report, which did not cite sources for the information.
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