TOKYO (Reuters) - Japan’s government is set to forecast real economic growth of around 1.5 percent and nominal growth of about 2.5 percent for the next fiscal year from April, two government officials involved in the projection process told Reuters on Wednesday.
The projections have not yet been finalised and can change slightly by the time the government announces the figures on Dec. 20, the sources said on condition of anonymity because they are not authorized to speak to media.
The growth projections will be used to compile next year’s budget draft, expected to be endorsed by the cabinet on Dec. 22.
The projections compare with this fiscal year’s forecast of a 0.9 percent expansion in price-adjusted real terms and 2.2 percent nominal growth.
The government usually issues economic projections for the coming fiscal year in December when compiling the annual budget, and revises them around mid-year.
Reporting by Takaya Yamaguchi; Writing by Tetsushi Kajimoto; Editing by Chang-Ran Kim