Primary balance deficit goal hard: Furukawa

TOKYO: Economics Minister Motohisa Furukawa said on Friday it will be difficult for Japan to achieve its goal of halving its primary balance deficit by fiscal 2015/16, with plans for a sales tax hike postponed.

Furukawa also said it is necessary to accelerate economic growth this year and next year before the sales tax hike.

Japan's government and the ruling Democratic Party formalised a draft plan on Friday on a new timetable to raise the sales tax. The first rise will come in April 2014, six months later than originally planned.

Prime Minister Yoshihiko Noda is expected to seek talks with opposition parties next week but is likely to face difficulties as they oppose the plan.