Prime Minister Shinzo Abe held the 15th meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

During the meeting, there was a discussion of the progress of the 'Emergency Economic Measures for the Revitalization of the Japanese Economy' and the achievements of economic and fiscal policies up until now, followed by the compilation of 'Basic Policies on Economic and Fiscal Management and Reform.'

Following the day's decision, the Prime Minister said in his address,

"At this Council on Economic and Fiscal Policy, we have had intensive discussion on the integrated progress of the 'three prongs' toward overcoming deflation since the beginning of the year.
In regard to the first prong, 'bold monetary policy,' up until now the Bank of Japan has been advancing monetary easing that is of another dimension toward the achievement of the price stability goal of 2%. During this period, we have had intensive discussion twice at this Council on monetary policy, commodity prices, and other matters, and have examined initiatives toward overcoming deflation.
For the second prong, based on the discussion in this Council, we decided on emergency economic measures, immediately compiled a supplementary budget, and are working to generate impacts swiftly. At present, these impacts are also steadily appearing in the regions.
Then for the third prong, through collaboration between the Headquarters for Japan's Economic Revitalization and this Council, yesterday, we compiled the Growth Strategy.
As such, at this Council, everyone has held intensive discussion on the entirety of the three prongs from the perspective of comprehensively advancing macroeconomic policy, and today we have been able to compile our first 'Basic Policies on Economic and Fiscal Management and Reform' in four years toward overcoming the many years of deflation, and economic revitalization.
These Basic Policies clearly show a path toward overcoming 'two decades of stagnation' and realizing 'a decade of economic revitalization.'
From now on, it will be necessary to further cement polices toward the achievement of the economy and macroeconomy that we aim for. I hope that this Council will continue to play a role in this regard."