Prime Minister Shinzo Abe held the 26th meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

During the meeting, discussion took place on "moving toward a strengthening of economic policy frameworks" and the "Basic Principles of FY2014 Budget Formulation." Following this, Council member Mr. Sasaki submitted a report to the Prime Minister.

Based on the discussion, the Prime Minister said in his address,

"Today, we were able to compile the Basic Principles of FY2014 Budget Formulation. I thank everyone for your hard work.
The Basic Principles show a path toward the realization of a positive cycle of economic revitalization and fiscal soundness, important issues for the Abe Cabinet. I would like the relevant ministers to proceed with work on budget formulation, based on these Basic Principles, in such a way that we can declare this budget to be 'the Abe administration budget.'
In addition, in order for Abenomics to lead to the realization of an even stronger economy, we need to pay more careful attention to the state of the economy and to the way policy effects present themselves; as well as expectations of prospects, risks and so on; in managing economic and fiscal policy. I hope that everyone thoroughly undertakes efforts on these points. Furthermore, as stated within the proposals from private-sector members, I would like to deepen discussion on issues that should be dealt with through multi-field initiatives in order to work toward the creation of macro- and micro-economy positive cycles, based on further coordination between this Council and the Industrial Competitiveness Council."