Japanese PM Abe is on the wires now, via Reuters, speaking after the Japanese Cabinet Office released the mid-term economic projections. Abe said that he seeks a year of stability and growth.
Meanwhile, “In its twice-yearly fiscal and economic projections, the government now expects the primary budget, excluding new bond sales and debt servicing, to swing to a surplus of just 300 billion yen (2.09 billion pounds) in the fiscal year starting April 2027,” per Reuters.
Japanese government expects real GDP growth to fall back to 0.8% in fiscal 2021, down from a forecast of 1.3% real GDP growth released at its previous assessment in July last year.
Meanwhile, USD/JPY keeps its bid tone intact and hovers around 110.20 region, having hit a new eight-month high at 110.29 in early Asia.
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