Japan must introduce fiscal and structural reforms says IMF
Jul 20th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Japan: After a sharp contraction in production and private demand following the massive earthquake in March, Japanese supply constraints are easing and activity has begun to recover according to the IMF (International Monetary Fund). GDP (gross domestic product) is forecast to decline by 0.7% in 2011 before rising by 2.9% in 2012. The outlook, however, remains uncertain depending on how quickly supply bottlenecks ease and sentiment recovers. The Fund in its regular assessment says that fiscal and structural reforms are needed if the world’s third largest economy is to continue being a positive force in the region.