Thursday, June 21, 2001
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At a meeting of the Council on Economic and Fiscal Policy at the Prime Minister's Official Residence, council member Jiro Ushio presented Prime Minister Junichiro Koizumi with a report containing its Basic Policies. These Basic Policies elaborate a solid policy framework for future economic and fiscal management and structural reforms of economic society. The report illustrates the following points as "Aiming for Restoration in a New Century-Japan's Economic Scenario": (1) sweeping solution of the issue of non-performing loans as the first step toward economic revival, (2) seven reform programs for structural reform, (3) reform of the policy making process, and (4) mid- to long-term economic and fiscal management and drafting of the FY2002 budget. After the meeting, Prime Minister Koizumi noted, "I wanted to set out these basic policies before drafting the FY2002 budget. We have evidenced our strong commitment that from now on we will tackle reforms leaving no sacred areas exempt. I am convinced people will understand on the whole that we are proceeding under the banner of specific agenda." The Prime Minister went on to express his resolve, "there can be no growth without reform. I will tackle the reforms adamantly. Japan's economic revival will be impossible unless these reforms are carried out." |