New Govt. Bond Issuance Expected To Rise In Fy2021
Japan's Finance Ministry has indicated new government bond issues in fiscal 2021 may increase for the first time in 11 years. The announcement comes amid rising social security costs such as medical care and pensions.
The ministry has worked out an estimate which indicates that if the economy continues to grow by 1.5 percent in nominal terms, social security costs in fiscal 2023 will increase to 38.5 trillion yen, or about 352 billion dollars. That is up 2.6 trillion yen, or nearly 24 billion dollars, from the budget plan for fiscal 2020.
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