The government approved at a cabinet meeting Friday an official projection of zero economic growth
in real terms and minus 0.9% in nominal terms for fiscal 2002 and its basic economic and fiscal policy for the fiscal year.
Japanese Finance Minister Masajuro Shiokawa told his G-7 counterparts that Japan will push forward with structural reform, but that measures such as credit-easing will be taken to prevent the reforms from leading to zero economic growth
Italy is also a source of risk for global markets given the failure of any political party to form a coalition government in Rome, a 130 per cent debt/GDP ratio, three failed banks, a 35 per cent youth unemployment rate and zero economic growth
in a generation.
The Bank of Italy calculated last month that even with yields of 8 percent and zero economic growth
, all else being equal debt -- at a mountainous 120 percent of GDP -- would remain stable for the next three years.
The Egyptian economy, which depends in large part on tourism, has seen a dramatic drop in tourist arrivals and near zero economic growth
since the revolt that ousted former president Hosni Mubarak in February.
Question: What do you get if you have zero economic growth
but rising employment?
''I want to find signs of an economic upturn within two years and hopefully intend to turn the zero economic growth
to a positive growth,'' Obuchi said in a lecture organized by the Research Institute of Japan, a nonprofit affiliate of Jiji Press.
In January, the government released an IMF-sponsored fiscal budget that targeted zero economic growth
, 20% inflation, and an exchange rate of 5,000 rupiahs to the dollar, well below the government's earlier predictions of 4% economic growth, 9 % inflation and the rupiah's exchange rate at 4,000 to the dollar.
The Egyptian economy has suffered from a dramatic drop in tourist arrivals and near zero economic growth
since the February revolt.