ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Another sales tax hike a must for Japan: economist Ito

NEW YORK -- Japan needs to raise the consumption tax to 10% next year as planned, economics professor Takatoshi Ito said in a speech Monday, stressing that an added burden is necessary for fiscal consolidation.

Economics professor Takatoshi Ito speaks at the event sponsored by the Nikkei Asian Review.

     Referring to Japan's debt-to-GDP ratio, which exceeds a whopping 200%, Ito warned that "we are clearly on a runaway path of the debt, so we cannot go on like that for much longer."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more