Thursday, February 19, 2009
Council on Economic and Fiscal Policy
Photograph of the Prime Minister delivering an address at the meeting of the Council on Economic and Fiscal Policy (1)
At this 4th meeting of the year, the Council discussed macroeconomic management amid the current severe economic conditions.
Prime Minister Aso said, "The recent preliminary gross domestic product (GDP) figures revealed real economic growth of negative 12.7%. The Japanese economy is thus rapidly worsening, undergoing the most difficult period since the war. I intend to overcome this situation in a bold and swift manner. The government considers that early execution of economic countermeasures, which reach 75 trillion yen in total scale, will constitute the best possible economic countermeasures. As for projects underpinned by the second supplementary budget of fiscal 2008, first I intend to promote as much as possible implementation of public projects that do not require the passage of bills related to financial resources. I also intend for other projects to be implemented in a swift manner immediately after the passage of related bills. I seek early passage of the fiscal 2009 budget and to execute it promptly from the beginning of the fiscal year. Needless to say, Japan's efforts alone are not sufficient to respond to the current global recession. Accordingly, we will attach importance to international coordination. At the same time, I hope to make nationwide, concerted efforts with the participation of a broad range of people, corporations, the regions, and groups."
Related Link
- Council on Economic and Fiscal Policy (CEFP) (Cabinet Office)
Photograph of the Prime Minister delivering an address at the meeting of the Council on Economic and Fiscal Policy (2)
Related photos
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