"If they go ahead with the budget plan, then probably the new issuance of Japanese government bonds will be roughly ?40 trillion" next year, said Kunji Okue, an analyst at Dresdner Kleinwort Wasserstein (Japan) Ltd in Tokyo, one of 24 banks and securities companies that advises the Ministry of Finance on bond sales.
Shiokawa said it's too early to predict the size of new bond sales next year.
"All we can say now is that we want to keep the expansion of new debt sales as low as possible," Shiokawa said at a regular press conference.
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