ID :
346945
Fri, 11/07/2014 - 00:31
Auther :

Krugman Tells Abe Not to Implement Add-on Tax Hike

Tokyo, Nov. 6 (Jiji Press)--Prominent U.S. economist Paul Krugman told Japanese Prime Minister Shinzo Abe on Thursday that the government of Japan should not implement an additional consumption tax hike as the country has yet to overcome deflation, sources said. Krugman, professor at Princeton University and the winner of the 2008 Nobel Prize in Economics, offered the advice when he met with Abe at the prime minister's office here, according to the sources. Krugman is known for his praise of Abe's economic policy package, known as Abenomics. Two economic advisers to Abe--Koichi Hamada and Etsuro Honda--joined the Abe-Krugman meeting. The Japanese government is expected to make a final decision next month on whether to raise the consumption tax from 8 pct to 10 pct in October 2015 as planned. The tax rate was raised to the current level from 5 pct on April 1 this year. END

X