Press Conference by the Chief Cabinet Secretary (Excerpt)

Opening Statement by Chief Cabinet Secretary Suga
(Abridged)

Q&As

REPORTER: Did the Prime Minister make any comments in the extraordinary Cabinet meeting that approved the new economic policy?

CHIEF CABINET SECRETARY SUGA: Yes, naturally the Prime Minister made a statement.

REPORTER: Could you share the details of his statement with us?

CHIEF CABINET SECRETARY SUGA: The Prime Minister noted that the approval of economic policies for the realization of investment for the future was thanks to the cooperative efforts of all Cabinet members, including Minister of State for Economic and Fiscal Policy Ishihara. The key phrase for the new economic policies is “investment for the future.” The Government intends to get off to a strong start in efforts to achieve investment in future growth sectors, such as agriculture and tourism, and also investment in measures relating to child-raising and nursing care, among others, which will open up a new future for a society in which all citizens are dynamically engaged. The Prime Minister also requested ministers to work to promptly implement the measures contained in the economic policies.

REPORTER: I have a related question. There are press reports that Finance Minister Aso and Governor Kuroda of the Bank of Japan (BOJ) are to have a meeting this evening. Immediately after the start of the Abe administration, the Government and the BOJ made an accord to engage in fiscal stimulus and implement another dimension of quantitative easing with a view to exiting deflation. Could you tell us the aims of the meeting today that is being held after the approval by the Cabinet of the new economic policies?

CHIEF CABINET SECRETARY SUGA: I am aware that the Minister of Finance and the Governor of the BOJ are scheduled to have a meeting today. I have received a report that following the formulation and application of economic policies today, Minister Aso and Governor Kuroda will be meeting to engage in an exchange of opinions about mutual efforts towards exiting deflation and moving towards the realization of sustainable growth. I believe that details of the meeting will be provided afterwards by both the Finance Minister and the Governor, and I suggest that you enquire with them at that time. In any event, I believe it to be extremely important for the Government and the BOJ to continue to work closely together towards exiting deflation and achieving economic growth.

(Abridged)