Japan – Economy forecast to double this fiscal year

Japan Tuesday forecast its economy would grow at the fastest rate in a decade this fiscal year and adopted a long-term overhaul to slash the highest levels of debt in the industrialized world.

The Cabinet Office said it expects the economy to grow around 2.6 percent for the year to March 2011, from an earlier projection of 1.4 percent.

If realized, the growth would be the highest since fiscal 2000, when the world’s second largest economy also expanded by 2.6 percent, according to official data.

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