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TOKYO, June 13 (Xinhua) -- The Japanese government on Thursday set a new goal of reducing the ratio of Japan's public debt to gross domestic product from fiscal1 2021, but the feasibility of the target remained unclear amid ballooning social security costs due to the aging of the population, said local media.
Prime Minister Shinzo Abe's administration pledged in its long- term economic and fiscal policy blueprints2 to halve3 the ratio of the primary balance deficit4 to the country's GDP by fiscal 2015 from the level in fiscal 2010 and turn the balance into a surplus by fiscal 2020, according to Kyodo News Agency.
By committing to fiscal rehabilitation5, the government is attempting to prevent growing concern over the nation's fiscal discipline from triggering a spike6 in longer-term interest rates, said Kyodo News.
The government also said in the blueprints presented at a meeting of the Council on Economic and Fiscal Policy on Thursday that it will review social security costs with nothing off-limits.
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1 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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2 blueprints | |
n.蓝图,设计图( blueprint的名词复数 ) | |
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3 halve | |
vt.分成两半,平分;减少到一半 | |
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4 deficit | |
n.亏空,亏损;赤字,逆差 | |
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5 rehabilitation | |
n.康复,悔过自新,修复,复兴,复职,复位 | |
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6 spike | |
n.长钉,钉鞋;v.以大钉钉牢,使...失效 | |
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7 endorse | |
vt.(支票、汇票等)背书,背署;批注;同意 | |
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8 dubbed | |
v.给…起绰号( dub的过去式和过去分词 );把…称为;配音;复制 | |
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9 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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