Fitch Ratings

  • projects Japan's economy to contract by 5% for full year in 2020, before rebounding to 3.2% growth in 2021
  • fiscal support & expected recovery in external demand should set stage for return to quarterly growth in 2h20 under fitch's baseline for Japan
  • says sharply wider fiscal deficits in 2020 and 2021, will add significantly to Japan's public debt
  • project Japan's deficit to narrow to 10.9% of gdp in 2021 and 5.3% in 2022
  • expects BOJ to maintain current interest-rate settings through at least end of 2022 under its yield-curve control framework for japan