Tokyo, Dec. 24 (Jiji Press)–The Japanese government on Wednesday upgraded its real gross domestic product growth projection for fiscal 2026 to 1.3 pct from 0.9 pct as of August, as eased inflation is expected to support private consumption and business investment. The government’s projection, which will be used to estimate tax revenue for the fiscal year starting next April, is higher than the average forecast by private think tanks of 0.8 pct. By category, the government raised its growth forecasts for private consumption to 1.3 pct from 1.1 pct and for corporate capital expenditures to 2.8 pct from 1.9 pct. Exports are now expected to expand 2.0 pct. The Japanese economy is expected to remain firm as a whole, despite the impact of higher U.S. tariffs. Consumer prices are projected to rise 1.9 pct, and nominal GDP is estimated to increase 3.4 pct to 692 trillion yen. For fiscal 2025, the government raised its real GDP growth forecast to 1.1 pct from 0.7 pct, anticipating the positive effects of its recently adopted comprehensive economic policy package, including the abolition of the provisional gasoline and diesel tax surcharges. END [Copyright The Jiji Press, Ltd.]
Japan Raises FY 2026 Economic Growth Forecast to 1.3 Pct
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