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Finance Minister Hirohisa Fujii said Tuesday the issuance of government bonds will most likely rise from the ¥44 trillion initially projected in fiscal 2009 because of an expected sharp fall in tax revenues.

Fujii’s remarks, made at a news conference, came amid the possibility that tax revenues, previously projected to total about ¥46.1 trillion, may fall below ¥40 trillion for the first time since fiscal 1985 if the economy does not pick up dramatically in the months ahead.

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