Top �� What's up around the Prime Minister �� January, 2004

The First Meeting of the Year 2004 of the Council on Economic and Fiscal Policy (CEFP) Friday, January 16, 2004 The first meeting of the year 2004 of the Council on Economic and Fiscal Policy was held at the Prime Minister's Official Residence. At the meeting, a report on "Structural Reform and the Medium-Term Economic and Fiscal Perspectives - FY2003 Revision" was submitted which modifies the "Structural Reform and the Medium-Term Economic and Fiscal Perspectives" that was decided by the Cabinet in January 2002. The revision shows its recognition that bright signs are seen in the Japanese economy with the recovery of the world economy and improvement in the revenue structure of private companies through their reform efforts, and to strive for the realization of sustainable economic growth led by the private sector's demand through further policy efforts such as acceleration and expansion of structural reform so as to spread these bright signs into every area of the Japanese economy, from companies to households and urban areas to regions. In receiving the report, Prime Minister Junichiro Koizumi said, "I would like this report to be decided by the Cabinet promptly and make this the basic policy of the Government on the medium-term economic and fiscal operation. The Council on Economic and Fiscal Policy is already into its fourth year. Although there are numerous domestic and foreign issues to be solved, I would like to bring the reform onto its track and seek to revitalize our economy with your continuous cooperation."