Japan has one of the highest levels of deficit of any country in the world, and it is only growing. According to a recent statement by the International Monetary Fund (IMF), Japan’s national deficit will be three times the size of its economy by 2030 unless the government takes action presently to control its spending.
Sourced through Scoop.it from: globserver.cn
This is not the initial time the IMF has urged Japan to control its enormous deficit. The country has not from presently on recovered from a decades-long deflationary period that caused it to borrow enormous amounts of money in order to fund programs aimed at boosting increase. Although Japan today has the world’s third major economy, it has come at the cost of this staggering deficit.