Japan’s government made a cut in economic forecast

Japan’s government has made a cut in economic forecast for the current fiscal year that starts from April 1 by 3.3% .The forecast were lowered based on the January predictions that stated zero growth in economy.

If the Prime Minister Tara Aso had not sanctioned the $159 billion stimulus plan the economy would have contracted at the rate of 5.2%.Recently it was also predicted that the decline in economy is moderating.