Japan FY 2019-20 tax revenue to undershoot govt’s estimate by over JPY 2 tln - Nikkei

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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