ID :
97191
Mon, 12/28/2009 - 23:50
Auther :
Shortlink :
https://www.oananews.org//node/97191
The shortlink copeid
Gov't likely to set 3% nominal GDP growth target through 2020
+
TOKYO, Dec. 28 Kyodo -
The Japanese government is finalizing an outline for a new growth strategy,
stating that the nation should aim at average economic growth of 3 percent in
nominal terms every year through 2020, government sources said Monday.
The outline will also state as a numerical target that Japan should raise gross
domestic product to more than 650 trillion yen by 2020 from the current 500
trillion yen, they added.
Prime Minister Yukio Hatoyama is scheduled to announce these goals after the
outline is approved at a Cabinet meeting Wednesday.
The government said Friday that the nation's economy will post a nominal 0.4
percent growth as measured by GDP in fiscal 2010 to March 31, 2011.
Compared with the single-year nominal growth target, an average 3 percent
expansion seems a high goal. But government economists apparently intend to set
a high goal for nominal growth which is not adjusted for inflation and is
therefore said to be closer than real GDP to people's actual perceptions of
economic conditions, the sources said.
In inflation-adjusted real terms, the government will set an average of 2
percent growth a year through 2020.
To achieve the goals, the outline will designate six areas in which the
government will prioritize development -- environment, health including medical
and nursing care, Asia, tourism and regional revitalization, science and
technology, and human resources.
The government economists are looking particularly at the environment and the
medical and nursing care areas as important fields where Japan should
concentrate and develop technologies, the sources said.
The outline will also say Japan should bring in demand from fast-growing Asian
economies.
Japan's public and private sectors together should spend the equivalent of 4
percent of GDP or more in science and technology-related research and
development projects, the economists will also say.
Based on the outline, the growth strategy panel, a government panel led by
Deputy Prime Minister Naoto Kan, is expected to decide on details and announce
them in early May, the sources said.
==Kyodo
TOKYO, Dec. 28 Kyodo -
The Japanese government is finalizing an outline for a new growth strategy,
stating that the nation should aim at average economic growth of 3 percent in
nominal terms every year through 2020, government sources said Monday.
The outline will also state as a numerical target that Japan should raise gross
domestic product to more than 650 trillion yen by 2020 from the current 500
trillion yen, they added.
Prime Minister Yukio Hatoyama is scheduled to announce these goals after the
outline is approved at a Cabinet meeting Wednesday.
The government said Friday that the nation's economy will post a nominal 0.4
percent growth as measured by GDP in fiscal 2010 to March 31, 2011.
Compared with the single-year nominal growth target, an average 3 percent
expansion seems a high goal. But government economists apparently intend to set
a high goal for nominal growth which is not adjusted for inflation and is
therefore said to be closer than real GDP to people's actual perceptions of
economic conditions, the sources said.
In inflation-adjusted real terms, the government will set an average of 2
percent growth a year through 2020.
To achieve the goals, the outline will designate six areas in which the
government will prioritize development -- environment, health including medical
and nursing care, Asia, tourism and regional revitalization, science and
technology, and human resources.
The government economists are looking particularly at the environment and the
medical and nursing care areas as important fields where Japan should
concentrate and develop technologies, the sources said.
The outline will also say Japan should bring in demand from fast-growing Asian
economies.
Japan's public and private sectors together should spend the equivalent of 4
percent of GDP or more in science and technology-related research and
development projects, the economists will also say.
Based on the outline, the growth strategy panel, a government panel led by
Deputy Prime Minister Naoto Kan, is expected to decide on details and announce
them in early May, the sources said.
==Kyodo
