November 14, 2019 / 10:46 PM / a month ago

Japan to issue more bonds to fill expected tax revenue shortfalls - Mainichi

TOKYO, Nov 15 (Reuters) - Japan’s government is expected to issue deficit-covering bonds to make up for budget shortfalls as tax revenues for the current fiscal year ending in March are likely to be lower than initially expected, the Mainichi newspaper reported on Friday.

The Ministry of Finance likely expects tax revenues to have fallen short of its initial estimate of 62.495 trillion yen ($572.82 billion) by roughly 1-2 trillion yen as slowing overseas growth hit corporate profits, the paper said without citing sources.

$1 = 109.1000 yen Reporting by Leika Kihara; Editing by Sandra Maler

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