New Govt Bond Issuance in Japan to Top 112 T. Yen
Tokyo, Dec. 13 (Jiji Press)--The Japanese government is considering issuing additional bonds in fiscal 2020 to finance coronavirus relief measures, lifting the annual amount of new bonds above 112 trillion yen, informed sources said Sunday.
The sum is twice as large as the 52 trillion yen marked in fiscal 2009 amid the global financial crisis.
The additional bond issuance will be included in a fiscal 2020 third supplementary budget plan that the government is expected to adopt on Tuesday.
The fiscal 2020 initial budget called for issuing 32.6 trillion yen in new government bonds, an amount that was raised to 90.2 trillion yen under the first and second supplementary budgets.
As a result, the proportion of debts to total government revenue hit a record high of 56.3 pct. The additional bond issuance will put greater pressure on fiscal reform efforts.
[Copyright The Jiji Press, Ltd.]