The Japanese Minister of Finance, shunichi suzukihas warned about the country’s finances during his appearance on Monday.
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“Japan’s public finances have increased in severity to an unprecedented degreeas we have compiled supplemental budgets to respond to coronavirus and similar issues.”
“The government will strive to manage the bond issue in a stable manner Japanese State Governments (JGBs) through close communication with the market”.
“JGB’s global issuance, including bond rollovers, remains at an extremely high level at around 206 trillion yen ($1.6 trillion).”
“We will redouble our efforts to keep JGB’s issuance stable.”
“Public finances are the cornerstone of a country’s confidence. We must ensure fiscal space under normal circumstances to safeguard confidence in Japan and people’s livelihoods in times of emergency.”
His comments come as the country’s public debt is more than double its annual economic output.until now.
Source: Fx Street
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