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Ministerial Council on Monthly Economic Report and Other Relative Issues Friday, September 19, 2008 JAPANESE

Prime Minister Yasuo Fukuda attended a meeting of the Ministerial Council on Monthly Economic Report and Other Relative Issues, convened by the Chief Cabinet Secretary, at the Prime Minister's Office. The Monthly Economic Report, released by the Cabinet Office, maintained from the August report the assessment of the current state of the Japanese economy: "The economy is weakening recently." On prospects for the economy, it states "Weak movements are likely to continue for the time being. Attention should be given to further downside risks that stem from growing financial uncertainty in the U.S. and movement of the stock and foreign exchange markets." In light of these recognitions, the report further describes the Government's policy stance. The Government will accelerate and deepen reform based on the "Economic and Fiscal Reform 2008" (Basic Policies); implement policies, based on the "Comprehensive Immediate Policy Package" published in August, continuously and seamlessly in connection with the formulation of the FY2009 budget; and implement the "New Economic Growth Strategy" announced on September 19th. Related link: Ministerial Council on Monthly Economic Report and Other Relative Issues