The Japanese government restores the 2025 primary budget surplus target, Japan has committed to getting its fiscal house in order, despite some concerns that it is too early to remove support from the economy.
In the Honebuto Prime Minister Fumio Kishida’s government, which was approved by the Cabinet on Friday, promised a balanced budget, excluding interest payments, by the 2025 financial year, bringing back language that had been missing from the document for several years.
The honebuto – which sets economic and budgetary management guidelines for the government – has largely been issued since 2001. The first honebuto was introduced under the administration of then Prime Minister Junichiro Koizumi in an attempt to gain more control over budget-making. , which has historically been run by the bureaucracy.
