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The increase in the contribution rate should begin as soon as possible, as delays would only make the necessary increase larger. The fiscal policy framework should be improved to help reinforce confidence in Japan's fiscal position and prevent a run-up in interest rates. While strong growth would help, the bulk of consolidation will require specific structural reforms to spending and revenue programmes to stabilise and then reduce debt-GDP ratios.

Pages: 384

Publisher: Crown Business; Reprint edition (April 20, 2011)

ISBN: B004G60EVY

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