Abe to Delay Sales Tax Hike
World Economy

Abe to Delay Sales Tax Hike

Japanese Prime Minister Shinzo Abe has decided to delay a sales tax hike set for next April as it would threaten the nation’s efforts to beat prolonged deflation, the Nikkei business daily reported on Saturday, Reuters said. Abe is expected to announce the delay after further consideration, including talks with fellow Group of Seven leaders at a summit in western Japan on May 26 and 27, the paper reported. The premier does not intend to dissolve parliament’s lower house and call a snap election on the same day as an upper house poll due in July, according to the Nikkei report. Economists were betting Abe would delay a rise in the tax to 10% from 8%, given weak consumption, limp wage growth and a stronger yen. Analysts will focus on Japan’s economic growth data for January-March, due out on May 18, to gauge the status of the economy. The proposed tax has been seen by fiscal hawks as needed to curb bulging public debt and pay for huge social security costs.

Short URL : http://goo.gl/Ofu9LX
  1. http://goo.gl/3yv2kc
  • http://goo.gl/x7FZU4
  • http://goo.gl/GTiGjU
  • http://goo.gl/RAJVg2
  • http://goo.gl/7x1efJ

You can also read ...

Debt to GDP ratios across the OECD averaged 73% last year and its members are set to borrow $14.67 trillion from the markets this year.
The world economy is at risk from a rising tide of government...
US has accused ABLV of money laundering and breaching  sanctions on North Korea.
The European Central Bank said Saturday it has determined that...
S&P Ups Russia to Investment Grade
Russia received a long-awaited upgrade to its sovereign rating...
China’s Geely Buys $9 Billion Daimler Stake
The founder of Zhejiang Geely Holding Group Co. has...
Mexico Hosts 39 Million Tourists, Earns $21 Billion
Mexico saw record revenues from international tourism in 2017...
Thorny issues such as content rules for  cars remain unsolved.
It’s looking increasingly likely Nafta talks will extend...
Peru Deficit Narrows
Peru had a current account deficit of 1.3% of the gross...
Manafort Indictment Spells Trouble for Bankers
Recently filed federal charges against President Donald Trump’...