Japan's economy recovers amid fears of tax hike

(MENAFN) The Bank of Japan said that the country's economy was recovering, despite fears of a sales tax rise which will further limits growth, Arab News reported. Policymakers noted that overseas economies, particularly among major industrialized nations, were also recovering, even though a lackluster performance still seen in part. "Japan's economy is expected to continue a moderate recovery as a trend, while it will be affected by the subsequent decline in demand following the front-loaded increase prior to the consumption tax hike," the bank said in a statement.