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Japan’s Aso - sales tax planned to increase in 2017

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Japanese finance minister Aso, while speaking in Parliament, said sales tax is planned to increase in 2017 unless unusual events.

    Markets fear a sales tax hike would push Japanese economy back into recession as it did when tax was raised. Japan was supposed to have increased the consumption tax to 10% from 8% last October, but it was delayed by PM Abe, who felt the economy would not be able to withstand a tax hike.

    Earlier today, Nobel-prize winner Joseph Stiglitz urged Japanese Prime Minister Shinzo Abe not to raise tax since it would be a wrong thing to do given the weak global economy.
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