• Japan’s government has raised its real fiscal year 2014 growth forecast to 1.3% from 1.0% previously Reuters report from an unnamed official
• The government projects about 50 trillion yen ($484.8 billion) in tax revenue for the coming fiscal year based on the revised growth forecast
• The sales tax hike due next year (rise from the current 5% to 8% in April 2014) is expected to curb consumption, but the government upgraded its growth forecast based on an expected return from fiscal stimulus aimed at ‘cushioning’ the tax hike.