IMF Managing Director Kristalina Georgieva
Tokyo … News Time
The new head of the International Monetary Fund IMF has advised Japan to increase the consumer tax rate to cover the well-being of its aging population. IMF Managing Director Kristalina Georgieva said this in Tokyo. He said Japan would face global economic slowdown, uncertainty of the global economy and Japan’s own demographic trends. Japan last month raised the consumer tax by 8 to 10 percent. Kristalina Georgieva said the IMF expects Japan’s real economic growth to be 0.8 percent in 2019 and in 2020 it will be 0.5%.The IMF says the consumer tax should be increased by 15 percent by 2030 and 20 percent by 2050, with a step-by-step increase.
