Japan Govt to Reduce Fresh Bond Issuance for 9th Year

Politics Lifestyle

Tokyo, Dec. 14 (Jiji Press)--The Japanese government is considering reducing fresh bond issuance for the ninth consecutive year in fiscal 2019, which begins next April, informed sources said Friday.

The reduction from the previous year's 33.69 trillion yen illustrates the government's determination to improve the country's finances.

The size of the government's fiscal 2019 general-account budget is expected to reach around 101.5 trillion yen, exceeding 100 trillion yen for the first time ever on an initial basis. The fiscal 2018 initial budget was worth 97.71 trillion yen.

The government aims to adopt its fiscal 2019 budget plan on Dec. 21, the sources said.

The budget's expansion reflects the launch of a 2-trilion-yen stimulus package designed to cushion the impact of a consumption tax hike in October next year from 8 pct to 10 pct as well as increased social security spending.

[Copyright The Jiji Press, Ltd.]

Jiji Press