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2015-01-11 — finditwestvalley.com
With the budget deficit -- excluding new bond sales and debt servicing -- projected at roughly three per cent of gross domestic product for the 2015-16 fiscal year, Abe will meet the government's guarantee of halving the debt ratio from 2010-11 levels. But Finance Ministry calculations show that the goal of balancing the price range by 2020-21 remains ambitious.
Abe raised the national sales tax in April to 8 per cent from five per cent, sending the globe's third-largest economy into recession. He postponed a second increase, to ten per cent, by 18 months to April 2017, but the economy's upturn under the premier's quick-funds policies is set to enhance tax revenues in the coming year.''
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