TOKYO (Reuters) – Japan is considering raising its forecast for fiscal 2022 real gross domestic product (GDP) growth to 3.0% or more after taking into account the impact of a record $317 billion extra budget, the Yomiuri newspaper reported.
The projection would be an upgrade from a forecast for 2.2% real GDP growth for the fiscal year starting in April 2022 released at a mid-year review in July.
The cabinet was set to approve the new forecast, which comes after parliament on Monday approved the 36 trillion yen ($316.73 billion) extra budget for the current fiscal year, on Thursday, Yomiuri said.
($1 = 113.6600 yen)
(Reporting by Daniel Leussink and Kantaro Komiya; Editing by Muralikumar Anantharaman)