TOKYO, Feb 10 (Reuters) – Japanese Minister of Finance Satsuki Katayama on Tuesday said using surplus from $1.4 trillion foreign currency reserves could be considered when discussing funding sources for planned cuts in food sales tax.
Asked about tapping the surplus generated from foreign exchange reserves, Katayama said at a press conference that such surplus had been transferred to the general account in the past.
She declined to comment on whether the government would relax budget rules requiring at least 30% of annual surplus to be retained in the reserve account, a step that would allow more funds to be shifted to the general account to help cover revenue shortfalls.
(Reporting by Makiko Yamazaki; Editing by Christopher Cushing)
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