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At Prime Minister Shinzo Abe opens the new....>

JAPAN
JAPAN: At Prime Minister Shinzo Abe opens the new parliamentary session, focus
falls on the expectation that the primary surplus target will be pushed further
back when the Cabinet Office releases the latest set of economic forecasts this
week.
- Currently the estimated time frame is 2025 (pushed back from 2020 when
originally forecast), there are reports in the Nikkei Asian Review that this
will be reset to 2027.
- The Japanese debt/GDP ratio sits around 240% and is the highest of any
developed nation. There are questions over fiscal discipline in Japan and the
efficacy of any forecasts as all previous estimates have subsequently been
revised.
- An official fiscal plan is set to be released on January 23.

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