TOKYO—With Japan’s economy improving and its tax revenues rising, the government hopes to pare its budget deficit in the fiscal year starting in April, as concerns linger about the country’s ballooning debt.
According to a draft budget released Tuesday, the deficit is projected to shrink to ¥41.3 trillion ($400 billion) in the fiscal year starting April 2014, or about 8.3% of gross domestic product, from ¥42.9 trillion in the current…
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