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Japan looks to reduce bond floats for eighth year

Tax revenue growth seen outpacing spending hike in fiscal 2018

Japan's Finance Ministry projects lower government bond issuance in fiscal 2018, expecting that tax revenue will increase.

TOKYO -- Japan will lighten its float of government bonds in fiscal 2018 for an eighth straight year, the Finance Ministry decided Wednesday, anticipating that tax revenue growth will exceed the spending increase in the nation's budget.

The JGB issuance, set to total 34.36 trillion yen ($302 billion) in fiscal 2017, would be reduced by as much as hundreds of billions of yen next fiscal year.

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