chapter  7
Public Private Partnership in Greece
Pages 18

In Japan, there are no major restrictions on the promotion of Public Private Partnership (PPP). However, it is frequently easier to procure through traditional means, which has resulted in fewer PPPs being developed than expected and led to the burden for public finance becoming larger. At the beginning of the 1990s when the Japanese economy experienced a recession, tax revenue declined and private infrastructure funding gained attractiveness. In the period of rapid economic growth of the 1960s and 70s there was an increase in tax revenue, which meant that there was little need to rely on private funding as a means of infrastructure procurement. In 1999 Private Finance Initiative (PFI) was introduced via lawmaker-initiated legislation with the support of majority and minority party members. The Democratic Party administration, which was established in 2009, charged the Liberal Democratic Party with having promoted unnecessary public works and set forth policies that drastically curtailed public works funding from the beginning.