Temat: CIEKAWOSTKI Z RYNKU I GOSPODARKI
WASHINGTON (Nikkei)--Japan will see its government debt rise to 250% of gross domestic product in 2015, according to an International Monetary Fund report issued Friday.
As a group, Japan and 28 other industrialized countries will see an increase from 97.8% this year to 110.2% in 2015. Included in this group are Greece and other European nations struggling with huge budget deficits.
The debt-to-GDP ratio for emerging economies, on the other hand, will turn downward in 2011 and fall to 34.2% by 2015. These countries, which boast more dynamic economies than developed nations, will also widen their advantage in fiscal strength, the report shows.
The report is based on the IMF's global economic outlook published last month and does not reflect austerity measures announced recently by Portugal and Spain.
The report projects a global fiscal deficit of 6% of GDP for 2010, an improvement of 0.7 percentage point from last year. But the projected improvement in developed countries' deficits is smaller than in last November's survey, despite an upgrade in the forecast for world economic growth since then, the report states.
Japan's deficit is forecast at 9.8% for 2010 and 7.3% for 2015. Japan, Greece, Ireland, Spain, the U.K. and the U.S. will be forced to make painful adjustments as part of efforts to achieve debt reduction targets, according to the report.
The IMF reckons that developed countries' potential economic growth rates will slow by more than 0.5 percentage point a year unless they reduce their public debts to pre-financial-crisis levels. The fund has proposed that Japan raise its consumption tax by 5 percentage points as part of its fiscal reconstruction efforts.
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