Press Conference by the Chief Cabinet Secretary (Excerpt)

Opening Statement by Chief Cabinet Secretary Suga

CHIEF CABINET SECRETARY SUGA: Today the Government held a meeting of the Headquarters on Creating Dynamism through Agriculture, Forestry and Fishery Industries and Local Communities and formulated a strategy to strengthen the exports of agricultural, forestry and fishery products. These industries are a key component of Japan’s growth strategy and regional revitalization, and exports of agricultural, forestry, and fishery products are a top priority for the new era of agricultural policies. Prime Minister Shinzo Abe has engaged in sales activities at the highest level and these efforts have resulted in an expansion of export value from 450 billion yen to 750 billion yen since the change in administration. We may achieve the goal of one trillion yen in exports by 2020 ahead of schedule. We intend to utilize the latest strategy to support efforts to develop global markets by the private sector, which drives exports, and raise the incomes of regional producers.

Q&As
(Abridged)

REPORTER: A meeting of the International Finance and Economic Assessment Council was just held. This was the final such meeting. Having heard the opinions of leading overseas economists, including again today, what is the Government’s overall assessment and how do you intend to utilize these results at the Ise-Shima Summit and for upcoming economic policies and management?
 
CHIEF CABINET SECRETARY SUGA: We heard a range of opinions regarding the global economic trend at the various International Finance and Economic Assessment Council meetings, ranging from stable growth to slumping. My understanding is that many experts see downside risk for the global economy, including a slowdown in the growth of emerging economies, and political and geopolitical uncertainties. Within this context, I think downside risk and vulnerability have been growing for the global economy. I think it is important at the Ise-Shima Summit for the G7 nations to issue a strong message on their resolve to take the lead and drive sustainable and robust growth in the global economy. 

REPORTER: This is a related question. Regarding addressing the vulnerability of the global economy, while I expect that the G7 nations will issue a message that they will work collaboratively to achieve sustainable and robust growth, the other nations are likely to look to Prime Minister Abe, as the leader of the country holding the G7 Presidency, on fiscal actions. Is the Japanese Government planning a supplementary budget for fiscal action and stimulus in light of these expectations as the country holding the G7 Presidency? Will Japan be taking any clear steps in this area?

CHIEF CABINET SECRETARY SUGA: At this point, we intend to accelerate use of the existing budget as much as possible. I think this is very important.

REPORTER: To follow up, does that mean that at this stage the Government is not considering the formulation of a supplementary budget for stimulus measures from the fall?

CHIEF CABINET SECRETARY SUGA: I believe it is important to accelerate use of the existing budget and thereby strengthen economic activity.

(Abridged)