According to the view of the Organization for Economic Cooperation and Development, there is a dire need for reforms in Japan. They are of the view that Japan needs to increase its sales tax.

This shall help them in being able to raise funds for the purpose of construction. The earthquake has left the nation in ruins and there is a need for it to develop reforms in order to rebuild the vicinity.

They were also of the suggestion that the Bank of Japan should be capable of buying more bonds. This shall help in checking the rise in rates of longer terms. The OECD was of the view the production would fall in short term as an effect of the earthquake that had left the country in ruins.

They predicted that the growth rate in Japan shall slow down by 0.8%. It shall recover to about 2.3% next year.

"We were at the take-off moment, at the end of the runway, and then suddenly, we have these problems”, OECD Secretary General Angel Gurria told a news conference. They said that there is a need for combined efforts by the authorities that could lead to the reconstruction of the nation.