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 Nikkei 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.
(Reporting by Tetsushi Kajimoto; Editing by Sandra Maler)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Updated Date: Dec 11, 2019 04:07:41 IST