Japan PM sees no need to change FY2025 budget balancing target, for now

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

Japan has no immediate need to change its key budget-balancing target for fiscal 2025, Prime Minister Fumio Kishida said on Friday, adding however that it may need to conduct a further review given uncertainties such as the Omicron variant.
 

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 spur growth and rein in social security spending to cope with a fast-ageing population.
 

Whether the government keeps or ditches this goal - which excludes new bond sales and debt servicing costs - will