Decrease in national tax revenue by 2 trillion billion from initial estimate
This year's national tax revenue is expected to decrease by 2 trillions of billions from the initial forecast due to the deterioration of corporate performance due to the effects of trade friction between the United States and China. In order to make up for the lack of financial resources, the government has decided to issue additional deficit-bonds for the first time in three years in this year's supplementary budget plan.
The government initially anticipated a record high of 62,495 billion yen for this fiscal year.
However, corporate earnings have deteriorated due to the effects of trade friction between the United States and China, and corporate tax revenues have declined. For this reason, tax revenues for this fiscal year are expected to decrease by 2 trillions of billions from the initial forecast. It was.
As a result, tax revenues for this fiscal year are expected to exceed 60 trillion yen, but below the previous year's results of 60,356.3 billion yen.
In order to make up for the lack of financial resources, the government has decided to issue additional deficit bonds in the supplementary budget plan for this year, which is being organized.
It is the first time in three years to issue a deficit-denominated government bond in the middle of the fiscal year, and the achievement of the goal for fiscal consolidation will become even more severe.