December 22, 2017 / 2:10 AM / 2 months ago

Japan economy minister: Next financial year budget shows big reduction in new debt

TOKYO (Reuters) - Japanese Economy Minister Toshimitsu Motegi said on Friday the national budget for next fiscal year showed the government was able to reduce new debt issuance by a big margin because of its pro-growth economic policies.

Motegi, speaking to reporters, said the government still aimed to achieve a primary budget surplus and would start debate next year on when it would be possible to achieve this target.

Motegi spoke after the cabinet approved a record budget for next fiscal year. The government will sell new bonds to finance part of next year’s budget, but the level of new bond sales will be the lowest in nine years.

Reporting by Stanley White; Editing by Chang-Ran Kim

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