Japan Finance Minister Issues Warning Over Finances

Japan Finance Minister Shunichi Suzuki warned on Monday that the country's finances are becoming precarious.

Suzuki said; "Japan's public finances have increased in severity to an unprecedented degree as we have compiled supplementary budgets to respond to the coronavirus and similar issues."

"The government will strive to stably manage Japanese government bond (JGBs) issuance through close communication with the market

"Overall JGB issuance, including rolling over bonds, remain at an extremely high level worth about 206 trillion yen.

"We will step up efforts to keep JGB issuance stable", he added.

Suzuki reiterated the government's aim to achieve an annual budget surplus – excluding new bond sales and debt-servicing costs – in the fiscal year to March 2026.

The government, however, has missed budget-balancing targets for a decade.