The Bank of Japan’s President Kuroda who is visiting Indonesia to attend the international conference said that the impact of the consumption increase tax expected to be implemented in October next year on the Japanese economy is smaller than when raised to 8% 4 years ago Respectively.
Kuroda BOJ Governor: “At the moment, I think that the impact on the Japanese economy is not great”
Mr. Kuroda stated that whether the consumption tax increase would be implemented by the government or not and stated that the negative impact on the Japanese economy by raising the consumption tax to 10% is not large. In particular, this time pointed out that foodstuffs and other items will be kept at 8% at a reduced rate, and the effect of raising the tax rate to 10% is 5% to 4% compared to 4% It will remain at about 1 of the year. ”
Source: ANN NEWS