• even with planned sales tax rise
  • Japan set to hit 2015/16 goal of halving primary deficit as % of GDP from 2010/11 level
  • draft estimates 2015/16 tax revenue at JPY 55.6 trln vs 2014/15 projection of JPY 50.0 trln

A bit more work to be done yet which will surprise no one as Abe tries to curb public debt of more than twice the nation’s GDP, the biggest debt burden in the industrial world.

Reuters reporting after having had sight of the draft