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No place in Japan for 'modern monetary theory', says Finance Minister Aso

No place in Japan for 'modern monetary theory', says Finance Minister Aso

FILE PHOTO: Japan's Deputy Prime Minister and Finance Minister Taro Aso, wearing a protective face mask, delivers his policy speech at the opening of an ordinary session of the parliament in Tokyo, Japan January 18, 2021. REUTERS/Issei Kato

TOKYO : Japan must not make its public finances a target of experiment for lax financial management such as through "modern monetary theory", Finance Minister Taro Aso said on Friday.

Aso made the comment at a regular news conference, when asked about a proposal by Sanae Takaichi, a contender in the ruling party's leadership race, for shelving a primary budget-balancing target until 2per cent inflation is met.

(Reporting by Tetsushi Kajimoto; Editing by Muralikumar Anantharaman)

Source: Reuters

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