[Provisional Translation]

Prime Minister Shinzo Abe held the 22nd meeting in 2016 of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

At the meeting, there was discussion on the fundamental reform of the pharmaceutical price system; comprehensive economic and fiscal reform; and the improvement of economic statistics, focused on GDP statistics.

Based on the discussion, the Prime Minister said,

“The relevant ministers have exerted unstinting efforts to achieve the compilation of the Basic Policy for the Fundamental Reform of the Pharmaceutical Price System. As well as reforming the pharmaceutical price system and reducing the burden on the public, we must advance innovation and improve the quality of medical care. In accordance with the Basic Policy, I would like the Council on Economic and Fiscal Policy to further deepen discussions in regard to issues to be considered in the future. Also, I would like Minister Shiozaki to steadily come up with specific reform measures.

Second, we have decided the Economic and Fiscal Revitalization Action Program 2016, and added new measures in the reform schedule. I would like the relevant ministers to continue to follow the reform work schedule and steadily implement the reforms, while making thorough efforts to ensure the improved visibility of the reforms and the horizontal roll-out of best practices.

Third, we have decided the Basic Policy for the Fundamental Reform of Economic Statistics, Focused on GDP Statistics . In line with the Basic Policy, I would like the relevant ministers to advance statistics reform, with the Government working as one.

Finally, I would like the private sector members of the Council on Economic and Fiscal Policy to continue to serve on the Council next year and discuss various important policy issues in regard to economic and fiscal policy. I look forward to working with you all again next year. Thank you.”