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Japan facing fiscal reform

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Japan facing fiscal reform

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The man who is set to become Japan’s new finance minister is promising fiscal reform.

Yoshihiko Noda is likely to be named by Prime Minister-elect Naoto Kan to fix Japan’s battered finances. Kan was finance minister and Noda his deputy.

Analysts believe they will bring in policies to boost economic growth and earnings, but will also need to focus on reining in public debt which is now around twice the size of the economy.