imf cuts japan 2012 growth forecast to 22 percent
Last Updated : GMT 02:37:54
Arab Today, arab today
Arab Today, arab today

IMF cuts Japan 2012 growth forecast to 2.2 percent

Arab Today, arab today

Arab Today, arab today IMF cuts Japan 2012 growth forecast to 2.2 percent

Tokyo - AFP

The International Monetary Fund (IMF) Tuesday cut its forecast for Japan's growth this year and 2013, saying a slowdown in disaster reconstruction spending will weigh on the world's third-largest economy. In its latest World Economic Outlook, the Washington-based IMF projected that Japan's economy would grow 2.2 percent and 1.2 percent in 2012 and 2013, respectively, down from its July forecast of 2.4 percent and 1.5 percent. Japan's economy shrank 0.7 percent in 2011 as it was hit by the March 11 quake-tsunami and resulting nuclear crisis, as well as heavy flooding in Thailand that hammered factory output for Japanese firms with plants there. "Much of the recent strength is attributable to reconstruction activity and some rebound in manufacturing activity in the first half of the year following the supply shocks associated with the March 2011 earthquake and tsunami and the Thai floods in October 2011," the IMF report said. "Earthquake-related spending has lent support to growth in 2012 but will decline sharply in 2013." Japan's export-oriented economy has also been hit by a slump in orders from its major European market. In a bid to address the problem Japan announced it was pledging $60 billion to the IMF as part of the organisation's bid to boost a global firewall against further eurozone debt crises. However, an escalation in the eurozone's debt crisis could be magnified in Japan because the central bank's ultra-low interest rate policy largely rules out further cuts to stoke the economy. The Bank of Japan's easing measures -- mainly through tweaking a now 80 trillion yen ($1.02 trillion) asset-purchase programme -- were "welcome and should help support economic growth and an exit from deflation", the IMF said. "However, further easing of monetary policy may be needed to accelerate achievement of the Bank of Japan's inflation goal of 1 percent," it added. The IMF also applauded a move earlier this year to double the nation's sales tax to 10 percent by 2015 as an "important step toward putting public debt on a sustainable trajectory". But it warned that "further consolidation measures are needed to achieve this goal". Japan is grappling with a debt standing at more than double gross domestic product, the highest ratio in the industrialised world, which is poised to grow as a rapidly ageing population turns to public pensions.

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*

imf cuts japan 2012 growth forecast to 22 percent imf cuts japan 2012 growth forecast to 22 percent

 



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*

imf cuts japan 2012 growth forecast to 22 percent imf cuts japan 2012 growth forecast to 22 percent

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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