Japan’s government is eyeing economic growth of a nominal 3.1% and real 1.7% as part of its macroeconomic projections for the next fiscal year that starts in April, government sources told Reuters on Wednesday. The projections, due to be approved by the cabinet next week, will be used to calculate the government’s draft annual budget for next fiscal year. The government had previously estimated nominal growth of 2.9% and inflation-adjusted real growth at 1.7% for fiscal 2016. The government is counting on a pickup in private consumption on the back of rising corporate profits to accelerate growth in the coming fiscal year.
