Japan to release several growth forecasts for fiscal year 2020, 2021 – report

Reuters reports, citing four government sources familiar with the matter

The multiple forecasts are due to the uncertainty over how long the coronavirus pandemic will last, with the government planning to release several scenarios for both fiscal year 2020 and also fiscal year 2021.

It is reported that the government will give projections for GDP based on two assumptions i.e. either the pandemic would end quickly or be prolonged.

As unusual as it may be for policymakers to do so, it is only prudent given the current situation. But as mentioned before, take forecasts during this period with a pinch of salt.

It is an evolving process and view, depending on how the virus situation plays out globally.

As for Japan itself, the country recorded another 981 new virus cases yesterday – a new daily record – with ~8,300 active infections seen currently. For some context, there was “only” ~1,000 active cases on 30 June.

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