Japan's economy to be "tentatively" recovered in 2010: IMF

22:11, April 21, 2010      

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Supported by fiscal stimulus and rising exports, Japan's economy could be recovered tentatively with the growth of 1.9 percent in 2010, said the International Monetary Fund (IMF) on Wednesday.

"In Japan, exports have helped support a tentative recovery, but spillovers to autonomous domestic demand have so far been limited; domestic demand is likely to remain weak as a result of several factors, including the reemergence of deflation, continued excess capacity, and a weak labor market," said the IMF in its latest World Economic Outlook report.

"Continued yen appreciation in 2010 could dampen the contribution of net exports to growth, particularly in comparison with the rest of Asia. As a result, the outlook depends crucially on planned fiscal policy support and the global upturn," said the IMF.

In the report, the IMF said "the global recovery has evolved better than expected, with activity recovering at varying speeds, tepidly in many advanced economies but solidly in most emerging and developing economies."

The world economy, which declined by 0.6 percent in 2009, will recover gradually in 2010 and 2011, growing by 4.2 percent and 4.3 percent respectively, according to the IMF, Asia's GDP is projected to grow by 7 percent in both years.

Source: Xinhua


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