Japan has come under renewed pressure to tackle its huge public debt, with the International Monetary Fundcalling on the government to triple the national consumption tax to at least 15 per cent.
“Japan must tackle its deep-rooted fiscal problems,” David Lipton, first deputy managing director of the IMF, said in Tokyo on Tuesday.
The immediate priority for Japan was to pass proposed legislation to raise the consumption tax, but more needed to be done to address the country’s longstanding challenges of high public debt, low growth and deflation, Mr Lipton added.
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