Prime Minister Shinzo Abe held the 25th meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

During the meeting, discussion took place on the 'Basic Principles of FY2014 Budget Formulation (draft)' and 'economic measures for the realization of a positive cycle of the economy (draft).'

Based on the discussion, the Prime Minister said,

"Achieving an exit from deflation and a positive cycle of economic revitalization and fiscal soundness are important issues for the Abe Cabinet.
In the recently compiled 'economic measures for the realization of a positive cycle of the economy,' an emphasis is placed on policies that can produce effects within the first half of next fiscal year and policies that are highly effective at creating private sector demand and innovation.
I would like the relevant ministers to thoroughly raise awareness on the significance and content of these measures through easy to understand communications at home and abroad.
In addition, after enacting the supplementary budget, we must swiftly implement these measures and make it possible to secure a path toward an exit from deflation and toward economic revitalization.
The FY2014 budget is the first budget that the Abe administration has been engaged in from the budget request phase. In addition to emphasizing policies that contribute to economic growth, with the raising of the consumption tax rate, I want to make this a high quality budget that ensures the improvement of the efficiency of expenditures.
I request that the Council on Economic and Fiscal Policy compile basic principles of budget formulation that strike a balance between economic revitalization and fiscal rehabilitation."