[Provisional Translation]

Prime Minister Shinzo Abe held the 14th meeting in 2016 of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

At the meeting, there was “intensive discussion related to monetary policy, commodity prices and other issues,” and discussion about “future initiatives that the new Cabinet is expected to undertake.”

Based on the discussion, the Prime Minister said,

“The economy is the issue of greatest priority for the new Cabinet. We will mobilize all policies, including recently approved economic policies, and achieve maximum escape velocity in order to exit deflation. I hope that the members of this Council will continue to play the role of the engine of Abenomics.

We aim to achieve the largest GDP in postwar history of 600 trillion yen, realize the desired birthrate of 1.8 children per woman, and reduce the number of people who leave employment to provide nursing care to zero. We will raise the flag of a society in which all citizens are dynamically engaged even higher and continue to take risks for the future as we work toward these three goals.

The greatest challenge we will attempt to tackle is work style reform. In line with the proposal from private-sector members, we will create an action plan within this fiscal year toward the elimination of the practice of long work hours and the realization of various work styles.

In addition, fixing our gaze on 2020 and beyond, we will pioneer a new future for Japan. To that end, it is vital that we develop the kind of economic structure that we should have in the future while working on the reforms we need now.

I received a concrete proposal from private-sector members on the important issues discussed in this Council from that perspective over past half a year. I would like for this Council to work on these issues thoroughly and produce results.”