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Abe Predicts Bump in Revenue as Japan Emerges From Recession
Japanese Prime Minister Shinzo Abe’s government predicts that tax revenue will exceed cash raised from bond sales for the first time in four years as the nation’s economy emerges from last year’s recession. The government forecasts 43.1 trillion yen ($473 billion) of tax revenue for the coming fiscal year, which starts April 1, compared with 42.85 trillion yen from issuing bonds, Finance Minister Taro Aso said in Tokyo late yesterday. Total spending is forecast at 92.6 trillion yen. A rosier outlook for tax receipts may help Abe as he applies short-term fiscal stimulus and prepares for an overhaul of levies ... (full story)