March 1, 2023  Bank of Japan  Economic Activity, Prices, and Monetary Policy in Japan Speech at a Meeting with Local Leaders in Fukushima  NAKAGAWA Junko Member of the Policy Board (English translation based on the Japanese original)  I. Current Situation of Economic Activity and Prices A.
The calculations show that this could make a significant contribution to debt sustainability, even if primary government surpluses were to remain at 3.5% of GDP until 2020 only (rather than 2022 as envisaged in the agreement) and fall to 2.0% afterwards. These two proposals, if adopted, will certainly support both the recovery of the economy and the country’s creditworthiness.