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Cabinet office cuts Japan growth forecast to around 2% | News | Japan Bullet

Cabinet Office Cuts Japan Growth Forecast To Around 2%


Cabinet office cuts Japan growth forecast to around 2%

Japan's government has cut its forecast for economic growth, citing the impact of the war in Ukraine and ongoing supply disruptions. The Cabinet Office now expects an expansion of around 2 percent in the fiscal year ending next March. That's down from the previous projection of 3.2 percent announced in January.

One of the main factors for the downgrade is sluggish growth in exports on the back of a global economic slowdown stemming from Russia's invasion.

The Cabinet Office also cites an expected fall in capital investment due to supply-chain issues caused by coronavirus lockdowns in China.