Japan’s tax revenues in Growth Domestic Product (GDP) have left room for the country to raise some tax rates while scaling down emergency pandemic support, the International Monetary Fund (IMF) said in its report on Thursday. According to IMF, Japan’s policy response to the pandemic has been “exceptionally strong,” with the country’s GDP forecast to grow at a rate of 3.3 percent this year, up from 1.6 percent in 2021. “Once the recovery is firmly in place, it will be important to rebuild fiscal buffers gradually and ensure debt sustainability over the medium to long term,” it stated. IMF recommended that the support scale be adjusted in light of the uncertainties surrounding the pandemic, which could pose downward risks. “Looking ahead, given the large uncertainty surrounding the pandemic, fiscal policy should be nimble and flexible, adjusting the scale and the composition of support in response to epidemiological and economic developments,” …