S&P revises Japan’s outlook to positive from stable

Tuesday, 17 April 2018 00:00 - - {{hitsCtrl.values.hits}}

Reuters: S&P Global Ratings on Friday revised Japan’s outlook to ‘positive’ from ‘stable’ as the country’s stronger economy sets the stage for fiscal improvement.

Japan’s formidable external position, its prosperous and strengthening economy, and the yen’s role as a global reserve currency offset weak public finances and adverse demographics, S&P Global Ratings said in a statement.

S&P Global Ratings affirmed its ‘A+’ long-term and ‘A-1’ short-term foreign and local currency unsolicited sovereign credit ratings on Japan.

The positive outlook on the long-term rating reflects Japan’s healthier growth prospects in both real and nominal terms, the rating agency said.

An official at Japan’s Finance Ministry declined to comment on S&P’s latest action, but said Tokyo intends to keep on working to improve its fiscal conditions.

“We understand securing the market’s confidence on Japanese government bonds is an important task. We intend to continue working toward fiscal consolidation, while doing our utmost in economic and fiscal management,” the official told Reuters.

Japan’s outstanding public debt burden is the worst in the world at more than twice the size of its economy.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.