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

During the meeting, discussion took place on the interim report of the specialist committee on the market economy system that Japan should realize, and the formulation of Basic Policies.

Based on the discussion, the Prime Minister said,

"Minister Amari has compiled an action plan toward the fundamental reform of PPP/PFI. I want to collaborate with the relevant ministers and robustly work toward the promotion of PPP/PFI projects that will reach the scale of 12 trillion yen in the next ten years.
From Council Member Kobayashi, we heard an explanation of the interim report of the specialist committee on the market economy system that Japan should realize.
I am always saying how consistently proud I am that Japan is 'a land blessed with rice.' I believe that we should encourage growth in the real economy, and have the fruits of that economy shared among those who have labored for them. We should 'rediscover' that origin of capitalism and see it thrive in Japan once again. I want to continue discussing the market economy system that we should realize, and present our way of thinking on this issue to the world at summit meetings and other opportunities. That is what I am thinking of doing.
Today, there was discussion on a draft proposal for Basic Policies. This is the first time there has been Basic Policies in four years, and we had a scenario drawn up about the Japanese economy, 'a decade of economic revitalization.' On average, over the next 10 years, we will aim to realize nominal GDP growth of around 3% and a real GDP growth rate of around 2%. It was revealed in that model of the economy that in doing so, our nominal per capita GDP will expand by over 1.5 million yen over the next 10 years. I offer my gratitude to our private sector members, as well as every other member of this council.
The key to exercising mutually reinforcing policies to the greatest effect possible between the three prongs will be the realization of sustainable growth connected to an increase in wages and employment. Another key will be the virtuous cycle of economic revitalization and fiscal soundness. In addition, another key will be to create firm economic recovery and encourage resolve and challenges among companies. I want to thoroughly work on these issues.
Based on the discussion today, I would like Minister Amari to work so that we can advance discussion with the ruling parties, implement consultation and reporting at the council meeting next week, and make a Cabinet decision."