06/12/2005

Why Overcoming Deflation is Crucial to Fiscal Restructuring

Satoshi Shinohara 

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Japan's public sector debt as a percentage of nominal GDP is the largest among advanced economies. To reduce the debt ratio， the government aims to achieve a primary surplus by the early 2010s. However， fiscal restructuring will also require overcoming deflation so that the nominal GDP growth rate can accelerate.

Satoshi Shinohara

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