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

At the meeting, there was a discussion on “the intensive debate on monetary policy, commodity prices, and other issues (first round),” “responding to the ‘Choosing the Future’ Committee’s report,” and “formulating a plan for achieving both economic revitalization and fiscal soundness.”

Based on the discussion in the meeting, the Prime Minister said,

“A positive economic cycle in which improving corporate earnings lead to wage increases and capital investment is beginning to emerge. I believe the significant decline in oil prices will also have many positive effects for the Japanese economy. It is my hope that the positive economic cycle will gain further momentum, and the pace of economic revitalization will accelerate.
The Abe Cabinet is engaging in regional vitalization and improving the employment environment, including holding Government-Labor-Management Meetings, and is focusing attention on ensuring that the outcomes of Abenomics reach each and every person living throughout the country. I intend to continue to deepen the debate by this Council.
I would like to thank Chairman Mimura for compiling the ‘Choosing the Future’ Committee’s report. The recommendation I received was that with steady progress being made toward exiting deflation, now is the very time we must accelerate reform and reverse the flow of birthrate decline and regional stagnation. I accept this recommendation, which could also be called the Mimura Report, and intend to work solidly on policies that target medium- to long-term growth and development.”