Core Points - The Japanese government plans to issue more new bonds to finance its economic stimulus package, with the new bond scale expected to exceed the previous fiscal year's level [1][4] - The supplementary budget for fiscal year 2025 is estimated at approximately 18.3 trillion yen, funded by issuing 11.7 trillion yen in government bonds [1][4] - The government aims to control borrowing by utilizing a tax revenue surplus of 2.9 trillion yen, about 1 trillion yen in non-tax revenue, and approximately 2.7 trillion yen in unused funds from the previous fiscal year [1][4] Economic Stimulus Plan - The comprehensive economic stimulus plan approved by the Japanese government amounts to 21.3 trillion yen, marking the largest stimulus measure since the pandemic began [4] - The plan addresses various areas, including inflation relief, strategic industry investment, and defense spending [4] - Specific allocations include 2.95 trillion yen for inflation response, 1.5 trillion yen for key sectors like AI and shipbuilding, and 1.3 trillion yen for defense [5][6] Fiscal Concerns - Concerns about Japan's long-term fiscal situation under Prime Minister Kishi's administration have led to increased investor anxiety, with long-term government bond yields reaching over 20-year highs [7] - The dollar to yen exchange rate is reported at 155.95, while the 20-year and 30-year government bond yields are at 3.329% and 3.677%, respectively [7] - To stabilize market sentiment, Prime Minister Kishi indicated that the total government bond issuance for the current fiscal year would be lower than the previous year, with a total issuance of 40.3 trillion yen expected for fiscal year 2025 [9]
新债规模激增75%!日本拟增发11.7万亿日元国债为经济刺激计划融资 长期财政状况持续惹担忧
智通财经网·2025-11-27 06:48