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Japan Construction Orders Padded By Up to 5 T. Yen Annually

Japan Construction Orders Padded By Up to 5 T. Yen Annually

   Tokyo, May 13 (Jiji Press)--An expert panel of Japan's infrastructure ministry said in a report Friday that the ministry has padded construction orders made to domestic firms by up to 5.1 trillion yen annually through data tampering.
   The overstatement, however, is likely to have had only a minor impact on the country's gross domestic product data, panel chief Yasuto Yoshizoe, professor emeritus at Aoyama Gakuin University, told a press conference.
   It came to light in December last year that the orders, a key GDP component, had been doubly calculated and overstated since April 2013.
   In the report, the panel also showed how to correct the falsified data and demanded the ministry immediately start the correction work.
   Infrastructure minister Tetsuo Saito said he will "spearhead the efforts to regain people's trust in public statistics." Then he expressed his intention to have the ministry release revised figures around this autumn.

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AFP-JIJI PRESS NEWS JOURNAL


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