Japan to Issue 37.3 T. Yen in Deficit-Covering Bonds
Tokyo, Dec. 18 (Jiji Press)--The Japanese government plans to issue 37.26 trillion yen in deficit-covering bonds for fiscal 2021, it was learned Friday.
The total is up by nearly 12 trillion yen from the initial fiscal 2020 level of 25,446.2 billion yen.
The growth comes as the government’s general-account expenditures for the year from April 2021 are planned to reach a record high of 106.61 trillion yen while tax revenues are expected to total only 57.45 trillion yen due to the impact of the spread of the novel coronavirus.
The total issuance amount of new government bonds, or deficit-covering bonds plus construction bonds, in fiscal 2021 will rise by 11.04 trillion yen from the previous year’s initial level to 43.6 trillion yen, up for the first time in 11 years, according to informed sources.
The issue amount of construction bonds will fall by 770 billion yen to 6.34 trillion yen, the sources said.
[Copyright The Jiji Press, Ltd.]