Top > What's up around the Prime Minister > December, 2004

Ministerial Meeting on Economic Measures Monday, December 20, 2004 The Ministerial Meeting on Economic Measures was held at the Prime Minister's Official Residence. The "Fiscal 2005 Economic Outlook and Basic Stance for Economic and Fiscal Management" was approved at this meeting and acknowledged at the extraordinary Cabinet meeting which took place afterwards. "Fiscal 2005 Economic Outlook and Basic Stance for Economic and Fiscal Management" incorporates a compilation of (i) main economic indices for FY2004 and FY2005, (ii) the economic trend of FY2004 and economic outlook for FY2005 and (iii) basic stance for economic and fiscal management in FY2005. As for the economic outlook for FY2005, "Fiscal 2005 Economic Outlook and Basic Stance" expects the real growth rate for the gross domestic product (GDP) to be approximately 1.6% and the nominal growth rate approximately 1.3%, and for the Japanese economy to continue its gradual recovery, mainly led by private-sector demand. With regard to the basic stance for economic and fiscal management in FY2005, based on the Basic Policies for Economic and Fiscal Management and Structural Reform 2004, "Fiscal 2005 Economic Outlook and Basic Stance" states that sustainable economic growth led by demand in the private sector should be aimed for by continuously promoting integrated and consistent structural reform without delay in all areas, in order to draw out the motivation of individuals and companies to face the challenge and for the independence of regions."