18 December 2001, 09:10  Takenaka sees GDP growth around zero next FY

TOKYO (AFX-ASIA) - State Minister for Economic and Fiscal Policy Heizo Takenaka said he sees zero GDP growth next fiscal year, declining to comment on the possibility of negative growth that many private sector economists predict. "I explained at a meeting (of the ruling General Council of the ruling Liberal Democratic Party) that next fiscal year's economic growth will be around zero," Takenaka told reporters after the meeting. "You will find out sooner rather than later," he said, asked about the possibility of negative growth, adding that the government's official economic forecast will be set tomorrow. Takenaka has previously said private-sector economic forecasts are too pessimistic as they fail to take into account additional government spending in the latest second supplementary budget.

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