Fitch said it will maintain Japan’s sovereign debt rating at AA- even after Tokyo abandoned its goal of balancing the budget by 2011, reports Bloomberg. Prime minister Taro Aso’s economic advisory panel last week proposed that the government postpone its plan to eliminate the budget deficit to 2019, after tax revenue plunged, prompting Aso to launch stimulus plans equivalent to about 5% of GDP.

This entry was posted by Gwen Robinson on Wednesday, June 17th, 2009 at 5:28 and is filed under Capital markets. Tagged with fitch, japan. Edit this entry.