• Kyodo


The Abe administration is considering curbing the new issuance of government bonds to around ¥42 trillion in fiscal 2014, down about ¥1 trillion from the initial state budget for the current fiscal year, due to a projected increase in tax revenues, sources said Saturday.

Tax revenues in the general account are forecast to increase by more than ¥7 trillion in fiscal 2014 on the back of next April’s sales tax hike to 8 percent from the current 5 percent, as well as expected growth in corporate tax revenues, the sources said.

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