(あかじこくさい)

あかじこくさい
noun
deficit-financing bonds, deficit bonds
formalwrittenbusinesslegaleconomicspolitics
1. deficit-financing bonds, deficit bonds
Government bonds issued to cover budget deficits, as opposed to construction bonds (建設国債(けんせつこくさい)) which fund public works. Formally called 特例国債(とくれいこくさい) (special bonds) because their issuance requires special legislation each year.
赤字国債(あかじこくさい)発行(はっこう)()えている
The issuance of deficit bonds is increasing.
The government aims for fiscal management that doesn't rely on deficit bonds.
The outstanding balance of deficit bonds has reached a record high, raising concerns about the burden on future generations.

Cultural note

赤字国債(あかじこくさい) are government bonds issued to fill gaps between tax revenue and expenditure. Japan's 財政法(ざいせいほう) (Fiscal Law) originally prohibited deficit bond issuance, so the government must pass special legislation (特例法(とくれいほう)) each year to authorize them.

The formal name is 特例国債(とくれいこくさい) (special exception bonds), but 赤字国債(あかじこくさい) is the common term used in media and public discussion.

Common collocations