Prime Minister Shinzo Abe held the ninth meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

Discussion took place on the "roadmap for economic revitalization and fiscal soundness," "human resources," "regulatory reform," and "progress of the 'Emergency Economic Measures for the Revitalization of the Japanese Economy'."

Based on the discussion, the Prime Minister said,

"The monetary easing that the Bank of Japan (BOJ) recently decided on is indeed bold and on a different level in terms of both quantity and quality, and it was the response that I had expected the BOJ to take. This policy has the understanding of the international community, as was expressed in the G20 Communiqu? of last weekend, which states, 'Japan's recent policy actions are intended to stop deflation and support domestic demand.' I would like to ask Governor Kuroda to continue to steer efforts to ensure that the 2% price stability target is achieved as quickly as possible with a two-year timeframe in mind.
Achieving both sustainable private demand-led growth and fiscal soundness is vital. At the G20, the importance of maintaining fiscal sustainability was also confirmed. I ask that the Council carry out further discussions to incorporate into the Basic Policies a roadmap for economic revitalization as well as a basic vision for achieving fiscal soundness, including efforts in each expenditure area.
In addition, human resources are Japan's greatest resource. I would like to ask Ministers Inada, Shimomura, and Motegi to work together with the ministers concerned to drastically strengthen our human resources development policy, with the Government, business community, and education community making united efforts.
Regulatory reform is essential for the realization of self-sustaining economic growth. We will reform regulations that stand in the way of hard-working people and companies from reaching their potential. Rewarding their efforts will bring back fresh vibrancy to Japan. I would like to ask Chair Oka of the Regulatory Reform Council and Minister Inada to continue to hold deliberations and make bold proposals.
With regard to the emergency economic measures, contracts have already been concluded for 60% of the programs, excluding those of local public bodies, and work has gotten off to a steady start. I would like to ask all ministers to continue to make efforts with a sense of responsibility to generate impacts swiftly.
Lastly, I would like to express my appreciation to Minister Amari for traveling to Indonesia on short notice and obtaining the formal approvals of relevant countries regarding Japan's participation in the Trans-Pacific Partnership."