When it comes to statistics relating to any country’s growth rate, a person shall not rely on the data presented in front of them because it could be fake. It seems like Japan is going through that same condition because according to a recent survey which states the country’s economic growth rate data was false and the government officials made a massive mistake in calculation. The reports say that most of Japan’s financial related data is fake and it does not show the real picture; due to which now more than 40% of the country’s economic policies data is false which now raises many significant questions on Japan’s government. One of the primary things which went wrong for Japan is that the officials from the economics department of the country followed the wrong method for calculating certain expenditures. Many policymakers have wrongly estimated the labor costs of the enterprises, and now the question arises whether this was intentional or not.
The researchers found that many enterprises in Japan pay more than what the government has estimated in their reports. More than 500 local enterprises were being surveyed in which it has been found that the actual labor cost is different and higher than what the government has said in their reports. However, the country’s officials have agreed to their fault, and they said that their mistake has cost more than $439 million to the ordinary people. Now the current government is under the pressure because many people are questioning about the reliability of the data provided by the Bank of Japan also. It seems like once again the bankers are those people behind such a massive fraudulent data scam. However, one thing is sure that nowadays a person shall not rely on any type of data presented in front of them.