(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.
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