The Economic Planning Agency announced Thursday it has revised upward its economic growth projection for fiscal 2000 to around 1.5 percent in real terms from the original 1 percent predicted last December.
Agency officials said the move was in line with an increase in consumer spending and private-sector equipment investment.
The EPA's upward revision of growth in gross domestic product -- the total value of goods and services produced within the country -- was reported to a joint meeting of Cabinet ministers in charge of economic policies and the Government-Ruling Parties Budget Conference, convened Thursday morning to adopt an 11 trillion yen economic stimulus package.