Make Kitco Your Homepage

Japan finmin: Need new time frame to hit budget-balancing goal

Kitco News

TOKYO, Sept 26 (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday that the government would need to craft a new time frame for achieving its budget-balancing goal, currently set at fiscal 2020/21.

He made the remarks a day after Prime Minister Shinzo Abe announced he would redirect some revenue from a planned sales tax hike in 2019 to child care and education rather than paying back public debt. Abe admitted that would make it difficult to meet the government's aim of balancing the budget - excluding debt-servicing costs and new bond sales - by the year ending in March 2021. Speaking to reporters after a cabinet meeting, Aso also said it was worth considering measures to encourage companies to spend their cash pile on boosting wages and capital expenditure.

(Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News