The Japanese government to raise VAT
The Japanese government raises the VAT from 5 to 8 percent from 1 April. It is the first time, since 1997, that the VAT will increase in Japan. The measure aims to balance the budget and to reduce the huge state debt.
After the VAT increase in 1997 an economic recession occured, but experts say that the circumstances are different now, and even if economic growth is slowing down, it will not completely stop. (tozsdeforum, MTI)
Related news
More related news >
Related news
Viktor Orbán: economic growth exceeding three percent is realistic next year
Economic growth exceeding three percent in 2025 is realistic in…
Read more >The pork sector is in a difficult situation: rising costs, falling consumption and changing habits
The domestic and EU pork sector has been facing challenges…
Read more >The Ministry of Finance asks people to spend in an information letter
The Ministry of National Economy (NGM) will inform members of…
Read more >