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Council on Economic and Fiscal Policy
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At the meeting, the Council discussed the current economic situation and macroeconomic management, the "FY2009 Budget Overview," and the report of the Expert Committee on "Structural Changes and the Japanese Economy." A private-sector member of the Council made a proposal on the "FY2009 Budget Overview," a basic guideline for creating a budget framework. It was decided that the Council will compile the "FY2009 Budget Overview" at the next meeting. Prime Minister Fukuda said, "Expenditure reforms must be continued thoroughly for the FY2009 budget. At the same time, it is important to adequately address policy issues of great need for the people. We must maintain the balance between efforts to restore fiscal health and those to address important issues, by reviewing expenditures with clear prioritization of items. I would like to see to it that based on this policy the "FY2009 Budget Overview" is compiled in a prompt manner and the Minister of Finance formulates the Guidelines for FY2009 Budget Requests."
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