Aso Deputy Prime Minister's Fiscal Consolidation Target At this point, I have not reviewed it.
Deputy Prime Minister Aso and Finance Minister said at a press conference that the financial situation has deteriorated further due to the two supplementary budgets affected by the spread of the new coronavirus, and the government's goal for fiscal consolidation is at the moment Revealed that there is no idea to revisit.
Since the government bonds are issued on a large scale as a source of two supplementary budgets, the “basic fiscal balance” of this fiscal year, which shows how much tax revenues can be used to finance the policy, is more than 66 trillion yen. It is expected to be in the red.
Aso, Deputy Prime Minister and Minister of Finance, argued with a stance on the government's goal of turning the basic fiscal balance into the black in fiscal year 2025, five years from now I have to think about it later."
In addition, a major U.S. rating agency lowered its outlook on the credit rating of JGBs, said Aso, ``If you issue JGBs like this, it is normal for the yen to fall and interest rates to rise. This time, there is no big change. If the effect of the supplementary budget on the economy appears on the positive side, the rating may be lowered," he said.