Japan's economy forecast to grow 2.5% in fiscal 2013

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  • -3

    cracaphat

    Ha! ha! lol.

  • 3

    AU_user_since_1998

    this is possible. Well for those salarymen (including foreigners) in Japan, take a closer look to your pay slip given Friday last week (January 25). Your income tax is defintely higher than the previous month by 2.5%

    From January 25, 2013 until Dec 25, 2037, all income tax payers salary in Japan will be deducted by additional 2.5% as an addtional income tax contribution to the Economic Recovery of the Tohoku regionss due to the Tohoku Great Earthquake (3/11/2010) and additional support for the economy.

    Although 2.5% increase in income tax does not necessarily translate to 2.5% GDP growth, it will stabilize and insulate Japan from external forces such as Euro/Greek crises etc.

  • 2

    Speed

    Is this really what they forecast or is this what Abe is telling the BOJ to forecast?

    The extra 2.5% income tax is quite a bit of money. What I'm hoping for is that it actually goes to Tohoku reconstruction. As it is now, they have had a dismal record of money reaching the people who are suffering.

  • 0

    herefornow

    First off, this is the cabinet's estimate, so it is completely biased and poliical. Second, they had to up the estimate, as they just approved a JPY 20 trillion stimulus package which is likely to add even more debt to the already staggering level. Finally, the LDP wants to gain a super-majority in the Upper House elections this summer, so they are trying to sway voters. If this Vegas and 2.5% was the over/under, I'd bet th ranch on under.

  • 1

    kurisupisu

    All taxes will slowly trend upward in Japan. Insurance and utilities already high and are on the same upward trend-Japan is becoming less productive and more debt ridden......

  • 0

    Able Tomohisa Matsumoto

    I believe in my country.

  • 2

    Serrano

    I see the yen is going back in the right direction again.

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