TOKYO -- Japan expects its economy to shrink mid-4% range for fiscal 2020, Nikkei has learned.
The revised projection for real gross domestic product marks a significant downward revision from the prospect of 1.4% growth planned by the cabinet at the start of the year, highlighting the economic damage caused by the new coronavirus. The figure exceeds the 3.4% decline in GDP in fiscal 2008, when the economy was hit by the global financial crisis.
