Japan: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Japan
Electronic Access:
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Summary:
This 2019 Article IV Consultation with Japan highlights that the rapid aging and shrinking of Japan’s population has become central to macroeconomic policies and outcomes. The consultation centered on the macroeconomic effects of Japan’s demographics. Mutually reinforcing policies are needed to lift current and expected inflation, stabilize public debt, and raise potential growth. Underlying growth is expected to remain resilient but will be increasingly challenged by slowing external demand and intensifying demographic headwinds. Growth in domestic demand is being eroded by the weaker external environment. Frontloading of private consumption ahead of the October 2019 consumption tax rate increase appears to have been smaller than in 2014.
Series:
Country Report No. 2020/039
Subject:
Aging Consumption taxes Fiscal policy Inflation Labor Population and demographics Prices Taxes
English
Publication Date:
February 10, 2020
ISBN/ISSN:
9781513529394/1934-7685
Stock No:
1JPNEA2020001
Pages:
119
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