December 6, 2016 / 1:15 AM / 3 years ago

Japan govt to issue additional deficit-covering bonds around $17 billion for FY2016 -govt sources

TOKYO, Dec 6 (Reuters) - Japan is considering issuing additional deficit-covering bonds worth around 1.9 trillion yen ($17 billion) to offset an expected tax revenue shortfall in the current fiscal year to March, government sources told Reuters on Tuesday.

The government expects tax revenues to undershoot its initial forecast of 57.6 trillion yen by around 1.9 trillion yen, which would mark the first downward revision in seven years, the sources said.

The plan will be included in a proposed third supplementary budget expected to be approved by cabinet this month.

$1 = 113.5800 yen Reporting by Takaya Yamaguchi; Writing by Tetsushi Kajimoto; Editing by Chang-Ran Kim

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