Japan seen cutting planned bond issue by up to 500b yen

Tokyo

JAPAN'S government will reduce its plans to issue new bonds this fiscal year by 400 billion to 500 billion yen (S$4.5 billion-S$5.7 billion) when it crafts an extra stimulus package this month as it aims to pursue both growth and fiscal reform, sources told Reuters.

This would mark a second straight year of reduction in planned government borrowing thanks to higher tax revenue from rising corporate profits, a windfall from Prime Minister Shinzo Abe's stimulus policies dubbed "Abenomics".