The tax revenue of the country this year is expected to be about 55 trillion yen, which is about 8 trillion yen lower than the initial forecast due to the deterioration of corporate performance due to the influence of the new coronavirus.
The government has a policy of issuing deficit-financing bonds, and the amount of new government bond issuance is expected to exceed 100 trillion yen for the first time this year, making the road to fiscal consolidation even steeper.
The government estimated the national tax revenue this year to be a record high of about 63.5 trillion yen.
However, due to the deterioration of corporate performance due to the impact of the new coronavirus and the decline in corporate tax revenue, this year's tax revenue is expected to be about 55 trillion yen, about 8 trillion yen lower than the initial forecast. It is.
Based on this outlook, tax revenues will decrease by about 3 trillion yen from about 58.4 trillion yen last year, and the amount of decline from the previous year will be the first since 2009 after the Lehman shock.
The government is in the process of formulating the third supplementary budget for this year, which includes the economic measures decided on the 8th, but will issue additional deficit-financing bonds as a financial resource to implement the economic measures to compensate for the decrease in tax revenue. It is a policy.
As a result, the amount of new government bond issuance is expected to exceed 100 trillion yen for the first time this year, and the road to fiscal consolidation will be even steeper.