Japan's fiscal 2013 main budget to total record 93 trillion yen - Nikkei
Jan 19 (Reuters) - Japan's main budget for fiscal 2013 could top 93 trillion yen ($1.03 trillion), marking the seventh consecutive year of expansion in the general account, the Nikkei reported.
New issuance of government bonds will be reduced slightly from the fiscal 2012 budget, the business daily reported.
The Kydo news agency quoted sources to report on Friday that Japan's initial general-account budget was likely to total a record-high 93 trillion yen, topping the 90.3 trillion yen ($1 trillion) initial budget for fiscal 2012.
The fiscal 2013 draft budget is scheduled for cabinet approval on Jan. 29. Post-earthquake disaster reconstruction will be managed under a special account separate from the general account, the Nikkei reported.
General account tax revenue is expected to grow by several hundreds of billions of yen from the fiscal 2012 budget's 42.3 trillion yen ($470.26 billion).
But given uncertain economic outlooks, the pickup in receipts is expected to fall short of 1 trillion yen ($11.12 billion), the business daily reported.
As a result, Japan's budget deficit will likely remain at a critical level, with its bond issuance exceeding tax revenue. The primary balance deficit will continue to surpass 20 trillion yen ($222.35 billion), the report said. ($1 = 89.9500 Japanese yen)
(Reporting by Bijoy Koyitty in Bangalore)