TOKYO, Jan 23 (News On Japan) - The fiscal balance of both national and local governments for 2025 is estimated to result in a deficit of 1.1 trillion yen, as presented by the Cabinet Office to the Council on Economic and Fiscal Policy.
The estimate is based on the assumption of a nominal growth rate of around 3%, projecting a deficit of 1.1 trillion yen for the fiscal year 2025.
Additionally, if continued efforts are made to improve spending efficiency, an improvement of about 1.3 trillion yen is expected. Prime Minister Fumio Kishida emphasized that these figures indicate the possibility of achieving a basic fiscal balance surplus by fiscal year 2025. He stated, "We will continue to steadily advance fiscal consolidation."