Prime Minister Shinzo Abe said Japan is sticking with its plan to increase sales tax in 2017 but did not describe whether two deadly earthquakes in southern Japan are considered as disaster.
The Japanese premier, addressing the parliament, said the government will proceed as planned unless an occurrence like a major disaster or Lehman shock emerged.
The incident on Kyushu island claimed at least 42 lives and ceased operations of major businesses, including Sony Corp. and Toyota Motor Corp.
Economists were already projecting Abe would defer a 10% sales tax hike next year due to firmer Japanese yen, disappointing consumption data, and salary increase limp.
The material has been provided by InstaForex Company – www.instaforex.com