1.
deficit-financing bonds, deficit bonds
Government bonds issued to cover budget deficits, as opposed to construction bonds (建設国債) which fund public works. Formally called 特例国債 (special bonds) because issuing them requires a special law.
The government aims for fiscal management that doesn't rely on deficit bonds.
Cultural note
Japan's Fiscal Law (財政法) allows government bonds only for public works, so deficit bonds can be issued only under a special law (特例法). The formal name 特例国債 comes from this; 赤字国債 is the everyday and news term.
Common collocations
- 赤字国債を発行する: to issue deficit bonds
- 赤字国債に依存する: to depend on deficit bonds
- 赤字国債の残高: outstanding deficit bond balance
Related words
- 建設国債: construction bonds, the kind the Fiscal Law permits
- 国債: government bonds in general