[Provisional Translation]

Prime Minister Shinzo Abe held the 13th meeting in 2015 of the Council on Economic and Fiscal Policy at the Prime Minister's Office.

At the meeting, debate took place on “the overall budget and FY2015 economic trends,” “the FY2016 guidelines for budget requests,” and “future initiatives of the Council on Economic and Fiscal Policy.”

Based on the discussion, the Prime Minister said,

“Today we have compiled the FY2016 overall budget, towards the formulation of the guidelines for budget requests and other related matters.

In light of the forecasts of economic recovery led by private sector demand, it is important that in FY2016 as well we implement initiatives toward steadily overcoming deflation and achieving economic revitalization, and also realize an improvement in the primary balance-to-GDP ratio.

While taking into account this overall budget, I would like the relevant ministers to specify expenditure reforms and other items in the process of formulating the budget for FY2016, which marks the first fiscal year of the Plan for Economic and Fiscal Revitalization.

In addition, in regard to the activities of the Council on Economic and Fiscal Policy in the second half of this year, Minister Amari has compiled the policy for future initiatives.

Based on this policy, I would like us to deepen discussions, ensure that we truly overcome deflation and achieve economic revitalization, and strongly advance comprehensive economic and fiscal reform. Thank you.”