TOKYO (Reuters) – Japan’s government is expected estimate that tax revenue will undershoot its initial forecast by around 2.3-2.5 trillion yen in the current fiscal year to March 2020 due to a slowdown in exports caused by the U.S.-China trade war, the business daily reported on Tuesday.
The government will issue additional deficit-covering bonds worth around 2 trillion yen in the current fiscal year to make up for a tax revenue shortfall, it said, without citing sources.
The government initially estimated this fiscal year’s annual tax revenue at a record high of 62.5 trillion yen when it compiled its annual budget a year ago. Additional deficit-covering bond issuance would make it harder to achieve its budget-balancing target by the fiscal year end to March 2026.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.