Japan government to "steadily reduce" new JGB issue

Tokyo

JAPAN'S government said on Monday it would "steadily reduce" new government bond issuance for the next fiscal year from that planned for the current year ending in March 2015, in a bid to curb runaway public debt.

In a draft budget outline submitted to the top economic council, Tokyo also pledged to "do its utmost" to meet its goal of halving the country's primary budget deficit in the next fiscal year.