Japan backpedals on budget-balancing target despite fiscal worries

Rising ultralong bond yields not discouraging lawmakers from pushing spending

20250521N Ishiba

Japanese Prime Minister Shigeru Ishiba's government promised big fiscal measures after taking office last year. (Photo by Uichiro Kasai)

KOSUKE TAKEUCHI and RYUTO IMAO

TOKYO -- Japan is pushing back its long-held target of achieving a primary budget surplus this fiscal year, a signal that the recent rise in long-term bond yields has not forced the government to focus more on reining in spending.

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