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Press Conference by the Chief Cabinet Secretary

May 26, 2016 (PM)

Press Conference by the Chief Cabinet Secretary (Excerpt)

[Provisional Translation]



REPORTER: I would like to ask about the discussions at the summit. Session 1 on the theme of the global economy has concluded. At the session, Prime Minister Abe presented explanatory information as reference data. It shows that the drop in commodity prices is the same 55% by which prices fell before and after Lehman Brothers declared bankruptcy. The information also explains that the rate of growth of investment by emerging economies has fallen below that during the global financial crisis. To date, the Prime Minister has stated that one of the requirements for postponing the consumption tax increase was a situation of the magnitude of the global financial crisis. Does the Government hold the view that the current situation is the same as or similar to the situation of the global financial crisis?

CHIEF CABINET SECRETARY SUGA: I do not know what information was presented. As I do not know this at this moment in time, I would like to refrain from responding to your question. Having said that, the Prime Minister anticipates fruitful discussions at the summit regarding not only fiscal policy, but also how to implement a balanced mix of monetary, fiscal, and structural policies while reflecting the situation in each country.


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