Arab Today, arab today japan credit rating downgraded by moodys debt cited
Last Updated : GMT 14:19:06
Arab Today, arab today
Arab Today, arab today

Japan credit rating downgraded by Moody's, debt cited

Arab Today, arab today

Arab Today, arab today Japan credit rating downgraded by Moody's, debt cited

Pedestrians walk past an apparel sho
Tokyo - AFP

Moody's downgraded Japan's credit rating on Monday, citing "rising uncertainty" over the country's debt situation and Prime Minister Shinzo Abe's faltering efforts to kickstart the world's number three economy.
The ratings agency said it cut Japan's rating by one notch to A1 from Aa3, after the economy sank into recession during the third quarter.
In the wake of the poor GDP reading, Abe announced that a planned sales tax hike set for next year would be delayed, as he called a snap election that the premier described as a referendum on his "Abenomics" growth blitz.
Tokyo raised the sales levy in April -- to 8 percent from 5 percent -- for the first time in 17 years, in a bid to generate more revenue to pay down an eye-watering national debt.
Japan has one of the heaviest debt burdens among rich nations, at more than twice the size of the economy.
But the increase slammed the brakes on growth just as the economy, plagued by years of deflation, appeared to be turning a corner.
"The first driver for the downgrade of the Japan government's debt rating to A1 is the rising uncertainty over whether the government's medium-term deficit reduction goal is achievable, and whether policy makers can overcome the tensions inherent in promoting growth while simultaneously stabilising and reversing the rising debt trajectory," Moody's said in a statement.
Holding off the fresh tax hike, initially planned for late 2015, "poses risks to fiscal consolidation and, over the longer-term, to debt affordability and sustainability".
"Japan's deficits and debt remain very high, and fiscal consolidation will become increasingly difficult to achieve as time passes given rising government spending, particularly for social programs associated with a rapidly ageing population," the ratings agency added.
Preliminary GDP data last month showed Japan's economy shrank 0.4 percent, or at an annualised rate of 1.6 percent, in the July-September quarter, following a 1.9 percent contraction in the April-June quarter -- or 7.3 percent at an annualised rate.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan credit rating downgraded by moodys debt cited Arab Today, arab today japan credit rating downgraded by moodys debt cited

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan credit rating downgraded by moodys debt cited Arab Today, arab today japan credit rating downgraded by moodys debt cited

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel police detain 15 over campaign

GMT 14:19 2017 Monday ,23 October

Israel police detain 15 over campaign
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday