Japan eyes 2.5% GDP growth, 0.5% inflation for fiscal year 2013-14

28 January 2013 11:00  [Source: ICIS news]

SINGAPORE (ICIS)--Japan is projecting an economic growth of 2.5% for the fiscal year starting April 2013, supported by a moderate recovery in exports, government data showed on Monday.

The country is expected to post a 4.3% growth in exports of goods and services – reversing two consecutive years of contraction – with the pace of increase slightly ahead of a 3.7% growth in imports, according to a statement posted on Japan’s Cabinet Office website.

In line with the expected expansion of the world’s third biggest economy, a 0.5% consumer price inflation is projected for the financial year starting April 2013, in contrast with the minus 0.1% estimated for the previous year, official data showed.

Japan has vowed to take aggressive monetary easing measures to boost its economy and shake off deflation that has afflicted it for decades.

By: Pearl Bantillo
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