Japan plans to trim its annual government bond issuance by 3.6 percent during the financial year beginning April 1, sources with direct knowledge of the plans told Reuters on Sunday, as part of government efforts to curb public borrowing. Japan's Finance Ministry is planning to issue 129.4 trillion yen ($1.14 trillion) in Japanese government bonds (JGBs) in the next fiscal year, down from 134.2 trillion yen in the initial budget for the current year, two people told Reuters on condition of anonymity because the plan has not yet been announced.
That will mean the sixth consecutive year of reductions. The government is expected to announce its initial budget plans for the 2019/2020 fiscal year this week. The Finance Ministry was not available for comment outside office hours.