To achieve a more sustainable tax base, the government intends to prioritise investment and consumption as the main pillars of economic growth. Can these work after the numbers clearly show that it’s not full steam ahead for the economy?
Japan's economy likely swung back to growth in the October-December period, helped by a slight pickup in external demand, though analysts warned private consumption remains fragile, a Reuters poll showed on Friday. The expected return to expansion, albeit modest, would come at a time when the Bank of Japan is debating the likelihood of a near-term exit from its massive stimulus programme, and is closely monitoring upcoming wage talks and consumer spending. "The recovery is not strong enough to regain from the 0.7% decline (annualised -2.9%) in July-September," said Shinichiro Kobayashi, principal economist at Mitsubishi UFJ Research and Consulting.
The city’s GDP expanded 5 per cent last year as the global economy turned out to be weaker than expected, Mayor Gong Zheng told an annual session of the Shanghai People’s Congress on Tuesday.
In Uganda, growth could reach 6 percent in FY23/24 and surpass it over the medium term, thanks to investment in oil-related infrastructure, the energy sector and transport.