JAPAN’S CABINET OFFICE FORECASTS THE COUNTRY’S ECONOMY TO CONTRACT BY 4.5%

Highlights –

• Japan’s cabinet office forecasts the country’s economy to contract by 4.5%.
• GDP for the year through next year was revised downward.
• The country’s economy is said to have been impacted due to the COVID-19 pandemic.
• The government predicted growth in the economy by 3.4% for fiscal 2021.

The Japanese Cabinet office announced....