Reuters reports that Japan’s government will cap new bond issuance for next fiscal year’s budget at 41.3 trillion yen ($407.62 billion), which is the same amount of new debt sold for the current fiscal year’s budget. Reuters cites a report from the Nikkei.
- The cap on debt will help the government meet its fiscal discipline target
- But the government will have to cut spending as budget requests for next fiscal year are expected to rise to a record high above 100 trillion yen
There’s more detail at Reuters , here, and the Nikkei article is here
