International Business

Japanese economy to grow 1.7% in 2010: IMF

The International Monetary Fund (IMF) has raised its growth forecast for the Japanese economy to 1.7 per cent for 2010, but has warned of an "uncertain" economic outlook. The multilateral lending agency had earlier projected the economy to expand at a rate of 0.5 per cent next year. The bank noted that public investment is increasing and exports and production are picking up. The bank said that the economy would start recovering from the "latter half of fiscal 2009" mainly on account of measures taken by the government to stabilise the financial system.

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