The outlook for Japan has been lowered to ‘negative’ by Fitch Ratings. Sovereign rating is maintained at ‘A’.
They are projecting Japan’s economy to contract by 5% for full year in 2020 – before rebounding to 3.2% growth in 2021. However, fiscal support and expected recovery in external demand should set the stage for the return to quarterly growth under Fitch’s baseline for Japan.
Hope things will look better for the Land of the Rising Sun soon.
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