Japan FY 2019-20 tax revenue to undershoot govt’s estimate by over JPY 2 tln - Nikkei
|The Nikkei Asian Review quoted sources familiar with the Japanese government thinking, as saying that Japan’s government is expected estimate that tax revenue will undershoot its initial forecast by around JPY 2.3-2.5 trillion yen in the current fiscal year (FY) to March 2020.
The sources said: 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.
Meanwhile, USD/JPY keeps its range around 108.70, lacking a clear directional bias amid broad-based US dollar and negative S&P 500 futures, as markets await the Fed decision and any clarity on the US tariffs hike for the next move.
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