OECD believes Japan not ready to rebuild fiscal structure.
PARIS Paris, in Greek mythology
Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. , Oct. 10 Kyodo
Member countries of the Organization for Economic Cooperation and Development Organization for Economic Cooperation and Development (OECD), international organization that came into being in 1961. It superseded the Organization for European Economic Cooperation, which had been founded in 1948 to coordinate the Marshall Plan for European (OECD OECD: see Organization for Economic Cooperation and Development. ) agreed Monday it is too early for Japan to promote drastic fiscal structural reform, Japanese delegation sources said.
Many countries welcomed a steady recovery trend in the Japanese economy, but argued that the recovery has not been clearly confirmed in private consumption, they said.
The assessment of the Japanese economy came at a meeting of the OECD Economic and Development Review Committee.
The committee, however, concluded that the Japanese government should take steps to reign in its expenditures in the near future given that Japan's gross domestic product is expected to grow for three straight years since 1999.
Japan's state budget deficit has been ballooning ballooning
Flying in a balloon in competition or for recreation. Sport ballooning began in the early 20th century and became popular in the 1960s. The balloons used are of lightweight synthetic materials (e.g. due to a series of pump-priming packages taken by the government to rev up Verb 1. rev up - speed up; "let's rev up production"
increase - make bigger or more; "The boss finally increased her salary"; "The university increased the number of students it admitted"
2. the economy.
The assessment results will be included in the global economic outlook report to be released in November by the Paris-based think tank of advanced countries.