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Ministerial Meeting on Economic Measures
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Prime Minister Yasuo Fukuda attended the Ministerial Meeting on Economic Measures at the Prime Minister's Official Residence, at which the Economic Outlook for FY2008 and Basic Economic and Fiscal Management Measures was adopted.
The report outlines the main economic indicators for FY2007 and FY2008, economic trends in FY2007, the economic outlook for FY2008, and basic economic and fiscal management measures for FY2008. In regard to the economic outlook for FY2008, the report estimates the growth rate of real GDP to be approximately 2.0% (with the growth rate of nominal GDP at approximately 2.1%), and explains that the private sector demand will lead the economic growth, with stable commodity prices, as the corporate sector remains steady and the household sector improves gradually, similar to the movements observed in FY2007. Furthermore, in regard to the basic economic and fiscal management measures for FY2008, the report states that the government will seek to achieve a stable economic growth and advance reforms based on the principle of "self-reliance and mutual cooperation" toward the goal of realizing a country of "hope and reassurance," thereby realizing (1) an economic society with vitality, (2) self-reliance and revitalization of the regions, and (3) a safe society in which the people can live their lives with a sense of security. The report was approved at the extraordinary Cabinet meeting that followed. |