The government approved a key economic policy outline Friday that includes pushing back the goal of achieving a primary balance surplus by five years to fiscal 2025 on the back of its own optimistic economic growth prediction.
The move could further fuel concerns over the long-term fiscal soundness of the already debt-ridden national coffers. The primary balance ¡ª considered a key barometer of fiscal health ¡ª refers to a government¡¯s ability to meet government expenditures, excluding interest payments.
¡°We will keep checking to make sure we hit our fiscal goals,¡± said economic and fiscal policy minister Toshimitsu Motegi at a news conference on Friday. ¡°In terms of restraining spending, we are looking to set concrete goals by the end of the year.¡±
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