MOF adopts new policy target eyeing fiscal consolidation

MOF adopts new policy target eyeing fiscal consolidation

TOKYO, Sept. 26 Kyodo

The Ministry of Finance (MOF) said Wednesday it has changed its policy target to place more emphasis on fiscal consolidation in line with changes in the government’s policy priority.

The new target calls for ”promoting fiscal consolidation” while designating the promotion of fiscal and economic structural reforms as the ”foundation” of the government’s policy with Prime Minister Junichiro Koizumi spearheading such reforms, the ministry said.

The initial target adopted in March calls for promotion of fiscal reforms while putting Japan’s economy on a self-sustainable recovery path at the same time, reflecting former Prime Minister Yoshiro Mori’s policy of seeking both fiscal reform and economic recovery.

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